LME stocks at all time high

摘要

A further weakening of the nickel price is not surprising from a fundamental perspective. LME stocks of nickel have continued on their upward path. At the time of writing, LME nickel stocks had risen to over 168,000 tonnes, representing an all-time high. The previous peak in stocks was at 166,476 tonnes back in early February 2010. In the past, Q1 has been a typically strong quarter for demand on the back of restocking in the stainless steel sector.