"Stockpiles of the metal monitored by the LME, up 41 percent this year, rose 0.3 percent to a record 368,364 tons. The higher inventory masks a balanced market, as supplies were shifted out of China amid a probe into inventories tied to financing at Qingdao Port, Anton Berlin, head of strategic marketing at OAO GMK Norilsk Nickel, the largest producer, said in an interview."
Here's another one too from September 4th this year:
"We expect nickel prices to remain strong after the Indonesia export ban and adding to the supply constraints if Philippines imposes an export ban on nickel ore there would be a huge supply shortfall especially affecting the Chinese NPI production which would turn the nickel market into deficit gradually."
Instead of trying to muddy the waters with arguments about Nickel prices, supply or inventories, why don't you just answer the questions asked of you?
AVQ Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held