The euphoria created by yesterday's announcement leading to AGM 's s/p closing at a strong 73 was soon dissipated to-day in the bleak reality of pon ,3 months LME close last night at 32650,down 1650 per ton.
As a result,and not the only factor ,AGM has now returned to the same price behaviour as the rest of the nickel producers ,showing a downtrend to-day as compared with yesterday.
The only consolation ,second day of holding so far line in the sand at 68-70. Too early to tell ,needs to hold for at least the rest of the week to be meaningful.
I am out at 70.5 .
Make up your own mind.
AGM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
