nickel prices remain strong

To anyone interested... It will be interesting to see if JBM can crack $4.00 today. The real test will be Monday when the US is fully back in action.

MARKETS METALS LME RE
LONDON, Nov 27 (Reuters) - London Metal Exchange (LME) futures
ended Thursday's kerb higher as players took advantage of the thin trading conditions to push
prices around, traders said.
Traders expected more of the same on Friday, with the two-day Thanksgiving holiday in the
United States keeping volumes low and activity thin.
"It is quiet today, but no worse than any other Thanksgiving," one floor trader said.
"We might see people trying to push the market around, trying to position by the close on
Friday to spark a move when the U.S. comes back on Monday," he said.
Copper ended the day at $2,019 a tonne, up from $1,993 at Wednesday's kerb.
Earlier on Thursday the LME announced that it was reducing the large position reporting level
for copper to one lot from 600 lots for positions as at the close of business on December 1.
This will be effective for positions reported on December 2 and will apply until further notice.
Traders said the exchange was trying to uncover what was happening in the nearby spreads,
particularly around December 10 to December 17, which was showing a $10 backwardation.
"It might encourage a bit more lending, but if it does have any effect, it won't be until
Monday," the trader said.
"The back has been out there for a couple of months. It's not like it developed overnight,"
he said.
The cash to three months spread widened to $16 backwardation at the kerb, compared to $12
earlier in the day.
Aluminium MAL3> rose to $1,520, from $1,512 at the last kerb close.
Traders said they expected the metal to remain hemmed in a $1,500-1,530 range in coming sessions.
Nickel gained $60 to end the day at $12,100, while tin rose $50 to $5,490.
Zinc gained $14 to $943 and lead strengthened to $636 from $631.