i thinkthat we will see it back over $8 as this is the quiet time in nth hemisphere summer demand for nickel will pick up even the steel producers such as Posco/korea admit this, i believe we will see nickel back towards $40 k level later this qtr /4th qtr , in the mean time just relax and pick up the MRE dividend , i look for a interim divvy of 40-50cents fully franked .
a good website to catch all the nickel and stainless steel news is below, it has some great articles which keep me up todate on the steel /nickel market.
http://www.estainlesssteel.com/stainless-steel-news.shtml
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