nickel price is the main concern

If ni price is sitting at 4.30-40usd/lb or lower as Itchi may say then all ni producers will stop producing
so far 60% of the world production is at loss...in that cas i expect big ones like Glencore to radically stop production put mines on C&M , cannot see other way, in that case ni price will pass above 5.5 then 6....
Average cost is above 5.5 even higher for main producers....most of them cannot lower it due to high Equipment investment at a time where ni price was above 6 and predicted at above 8....
It was almost a booming time 2 years ago, a rush in ni with high prediction towards price in that case you do not negotiate too much your required drills equipment...plus USD currency up against others..but this factor is not the main point so far....
so 2 possible scenario

- A heavy plunge in ni price, stocks massively up again...so we will have to be patientttttttttttttt until glencore and others stop ALL production, cannot see other way
OR
- Stocks keep falling, ni back to 5 then 6 within 6 months then mines are profitable with a good forecast...SO FAR not worried about Indo except if investors are ready to lose money for years


POS needs scenario 2

fredy