Warehouse stocks at the LME usually lag behind price changes (at least with regard to the charts we see at www.kitcometals.com) but we are now seeing a levelling out of the warehouse stocks with the chart line almost flat at just over 70,000 tons.
Recent movements have been +3.661%, +0.865%, +1.031%, +0.154% for the period from the 9th to the 17th of December.
I think there is a lot of wait-and-see on both the buy and sell sides of the ledger. Investors and traders want to see which way the Nickel price will go, now at $4.3643/lb ($9,776/t), continuing a steady rise after a slightly exciting spike to $4.922 (was at $4.2418 before the spike and as low as $3.9712 in early December).
Robert
ALB Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
