I notice LME Nickel stocks are back on the decline, falling from an Oct inventory of 8000t now back down to just over 6000t....Should be around 25000t plus by now instead.
This really scares me because we dont want the exchange back in regulating the (backwardation)mkt.
Whilst its not going to happen overnight, it builds pressure on the stainless guys over time to change the recipe!
My medium term fcast unfortunately might happen sooner, which whilst good for MCR sooner, could be harmful in the longer run to the Nickel mkt.
Where else would you be at the moment other than in Nickel and Zinc stocks...I ask you?
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