Tom,
you may or may not remember that we were chewing the fat re nickel in June/July/August last year-the discussion went along the lines of the importance of LME stockpiles and the then seasonal affect of summer (smelter relines, ice melts at Norilsk etc).
Please note that we are at those warehouse levels three months early-ie pre seasonal effects.
I feel comfortable with exposure to the nickel stocks such as JBM and IGO (and most of the others such as MCR and WSA).
Cheers,TAS
nickel/obscure article from friday, page-3
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