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$3.86 western areas limited

can Ni go below $4.00/lb?, page-2

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DSD

15,811 Posts.

33

06/05/17

16:21

Post #: 24517947
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Originally posted by DSD ↑

A year ago spot Ni was $3.90/lb. 5 months ago traded at $5.25. Last night Ni price dropped another 2.5% to close at $4.09. Graph below shows the massive swings over past 12 months with past 6 weeks very bearish. Going below $4.00 is like oil breaking $50. As much psychological as it is bearish. WSA our best Ni mine but is powerless to control what consumers will pay. Goldies are falling like flies and yesterday WSA had a massive swing below $2.00 before recovering. Eventually Ni miners around the world will throw in the towel but seems a tough time lies ahead (at least over the shortish term) for almost all types of commodities e.g. IO and coal are feeling similar pain.

http://www.*****net.com/charts/metals/base/spot-nickel-1y-Large.gif

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Some relief overnight (friday) as Ni rises 1.5%. Been a torrid week for commodities esp IO, coal and oil.

WSA Price at posting: $2.03 Sentiment: None Disclosure: Not Held
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0 Great analysis

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