we love you sally, page-5

cheapest nickel shares.. Fin Review says SMY is one of the cheapest nickel shares on a price to earnings ratio.. (Page 22)

NICKEL HITS NEW HIGH

http://premium.basemetals.com/ReportItem.aspx?Code=1023170957

Nickel was one example, hitting a new all-time high of $32,700 a tonne at one stage, a $700, or 2.2 percent, jump from Friday, supported by a spot squeeze and severely depleted warehouse inventories.

Last trade was at $32,400, with the market now up 143 percent, or just over $19,000 a tonne this year.

Analysts said that the fundamental picture of scarce supplies has been highlighted by a month long strike at producer Eramet's Doniambo smelter in New Caledonia, which has left the smelter with only 10 days of feedstock remaining.

"With only 3,294 tonnes of stocks available on the LME, less than one day of global consumption, the market can ill afford any production losses," broker Barclays Capital said in a report.

LME warehouse stocks actually rose on Monday -- up 312 tonnes to 5,148 tonnes. But the amount of metal under 'cancelled warrant', which denotes nickel due for removal, increased by over 300 tonnes to 1,866 tonnes, keeping available material perilously low.

Despite current high prices and premiums, there is little evidence that end-users are being turned away from nickel.

"We have not seen any signs of substitution. In fact, our customers are more concerned with getting material," Juha Rantanen, CEO of stainless-steel producer Outokumpu Oyj said.