what's going on with the LME Nickel levels?, page-5

Hi anthonyzya
The Indonesian ore will not be included in the LME once processed as it will be in the form of ferro nickel or NPI which are Class 2 Ni. The LME only does contracts on Class 1 Ni greater than 99.8% purity.
The LME is currently doing an investigation into late last yeats rapid drawdown in case manipulation by foreign bodies ( or countries) was involved. The rapid resupply also does not make sense as only approx 450Kt of Class 1 Ni is produced yearly of which not all is sold via the LME. With in excess of 100kt coming back into warehouses in just over 2 months ( while still selling contracts) this is far greater than normal refining supply.