Nickel highlights

摘要

Nickel's unceremonious omission from traders' order books continues, with this lack of interest leaving the metal heavily exposed on the downside. A retreat beneath 17,000 dollars/tonne has been on the cards lately and that has now happened. It is difficult to find anything that could be deemed a positive note for nickel, but we have seen cancelled warrants starting to nudge up in the past week. They have only hit 7%, but net deliveries do seem to have eased, maintaining total LME stock levels at dose to 105,000 tonnes in the past couple of weeks.