re: economically speaking.... King Louie, I have to agree, but...

re: economically speaking.... King Louie,
I have to agree, but also am hoping $2 forms as a support base.
Why I disagree with some of the analysts forecasting a collapse of the PON is because of the fundamental economics. Historic LME inventories of Nickel:
November 01 25000t
November 02 21000t
November 03 36000t
November 04 22000t
November 05 20000t
November 06 7250t...now you add the demand realities like the growing China, Korea, India, Japan stories which have kicked in big time over the last 2years, and the supply stories like PRODUCTION delays with Ravensthorpe, New Caledonia, Canada,Indonesia and you have a recipe for continuation of very strong PON. In fact between the last few months, through to early next year (cyclically) inventories should be on the rapid, buildup before the traditional drawdown of inventories that takes place from Feb onwards.
I'm arguing an improving PON over the medium term.
Calamitous world events and major mkt influence by speculative fund trading are probably the 2 big variables noone can fcast.
Anyway its my money and Im still punting a PON north of $15/lb and a MCR north of $2.65 medium term.