Nickel suffered an unexplained price collapse last Wednesday with a fall fromaround $10,700/tonne to $9,100/tonne, before rebounding back up to $10,400/tonne – in a space of about ten minutes. It happened either side of around 02:25BST and we can only assume it was triggered by a poorly executed stop or sell orderthat found there was little liquidity around. The fact that prices have since held uparound the $10,500/tonne area means the sell-off was an aberration, but it hasdone little to change the chart view that prices are stuck in a downward trend.
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