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Ann: Ceasing to be a substantial holder, page-5

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Rickk

330 Posts.

177

26/04/17

12:48

Post #: 24269808
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Originally posted by LightForce ↑

There will probably be more pain (in the short term at least). Inventory up 5000 tonnes per day for the past 2 days. Not liking the looks of it considering it has dropped by 500 tonnes/day for a while..

USA challenging China's steel manufacturing position is not good too (may be good for pollution control in China though!).

And shorts spiking up recently doesn't bode well too.

All signals don't look good in the short-term. It may re-test 52 week low..

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Does it matter where steels are produced whether in China or US? Unless US did not use nickel to produce stainless steel, they will need to buy nickel from somewhere too. I don't see how we could hit $1.89 low again if LME price can hold above $9k a tone.

WSA Price at posting: $2.15 Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: Ceasing to be a substantial holder, page-5

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