The consolidation mode of the market which we discussed last week has failed to turn into a spring board for anything more constructive, yet. Quotes are still feeling for the floor, and $16,500/tonne is providing convincing support, but investors are still playing it rather cool when it comes to re-entering the market. The main issue is that early Q2 consumer buying has not yet lived up to the expectations of many nickel market players, particularly given the substantial reduction in cash prices.
展开▼
