"I myself have not kept track or perused details of potential...

"I myself have not kept track or perused details of potential consumption so would not hazard a guess other than expect it to rise on inflation, and hoarding."

Here's the hoarder (with GS waiting for "an opportunity to short it".)

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"LONDON, March 30 (Reuters) - New-York based hedge fund Touradji Capital Management is betting on improved demand for nickel, helping the material used in stainless steel outperform other base metals this year, traders and market sources said.

Benchmark nickel CMNI3 on the London Metal Exchange has gained more than 25 percent so far this year to around $24,000 a tonne on Tuesday -- making it the best performing base metal. By contrast, benchmark base metal copper CMCU3 has gained five percent so far this year.

"It's Touradji," a Europe-based hedge fund said, when asked who was behind the price rally in the nickel market.

Touradji is a commodities-focused hedge fund manager that was founded in 2005 by managing partner Paul Touradji. The fund had more than $1.5 billion under management at the start of the year, according to one investor.

A Touradji spokesman declined to comment on the fund's position in the nickel market."


Full Article with some good info:

http://www.reuters.com/article/idUSLDE62S0ZI20100330