LME nickel prices continue to consolidate above the $10,000/tonne level, as LME stocksfall and the market grows more confident that a bottom is being formed. Our technicalanalysis warns that support levels may come under threat again in the short term, butonly as part of the consolidation and base-building process. At the moment, as a basecase scenario, we believe that the lows for nickel prices have now been seen.
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