Nickel prices fluctuated in trade last night from around US $ 17,400 p/tonne to $ 15,000 p/tonne. Economists in the UK have said today that the price movement is not a correction of the strong recent gains but more a profit taking venture on thin trades.
Nickel company prices in the ASX have fallen today in response largely due to a combination of profit taking and a little fear of last night's fall.
World nickel supply is low and demand is high with 2004 tipped to again be a strong year for nickel. The demand from China continues from 2003.
NKL has come off a high of around 37.5 c from before Christmas and touched 29.5 c today. I see this as an opportunity to enter the stock at an attractive level.
Should see 33c-34c in next 7 - 10 days.
Nickel prices fluctuated in trade last night from around US $...
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