There is still enough momentum in the nickel market to keep prices afloat, but something which we are noticing is that volumes are shrinking. Investors came into the New Year with a burst of fresh capital, but given the lack of clear direction from either nickel's fundamentals or macroeconomic indicators from key regions, sentiment towards nickel remains indecisive. At present we are taking economic releases to be indicative of base building, paving the way for a more convincing recovery in subsequent quarters.
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