A 'satisfactory' run-up in spot Ni (lol)... and we're EU's and US's overnight market.
Was wondering how long it would take for the market to price-in the unfolding impending supply shock... 5-6 business days is pretty quick in the grand scheme of things.
Keep a mental note of US$24.50/lb. That's the all-time LME futures high of mid-2007. Records are made to be broken, though, so it's by no means a hard ceiling of where it could go in the near-term.
If this spot price action continues, then the 'Hot Money Brigade' won't be far away for all Ni players, including us in due course, and the buy-side demand will blow through the off-screen wall of sell orders, much like that of late-June and late-July last year.
Nickel Boner Update, page-4090
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $16.72M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $9.399K | 2.388M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 108 | 62380125 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 51637167 | 37 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| POS (ASX) Chart |