Nickel is moving, Just a observation, being it's the main needed war metal.
Opinions....
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Is nickel the Canary?
Nickel is moving, Just a observation, being it's the main needed war metal.
Opinions....
Member
Hard to tell these days. You can't really justify moves anymore. The markets are soo manipulated now a days that fundamentals are not the way to look at metals.
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Looks good this AM. Up about 4% since yesterday. The base looks good.
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I like my nickel stack...Originally Posted by Westerner
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Big jump in the LME stocks. Doesn't seem normal?.....
http://www.kitcometals.com/charts/ni...istorical.html
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The Canary is singing....
http://www.youtube.com/watch?v=kpfsYIN9cZ8
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Looks like we are going to have a great week in nickel...
http://www.youtube.com/watch?v=GvOKKdeLl5U
Above is a trio singing for 12 minutes. With gains like this it's worth a trio.
Now I just need copper, lead and tin to follow and the Bulls will be back on top.
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INTL FCStone: Nickel Soars While Other Base Metals Subdued
Kitco News, Market Nuggets
INTL FCStone: Nickel Soars While Other Base Metals Subdued
Monday April 14, 2014 9:18 AM
Kitco Nickel Price Historical ChartLondon Metal Exchange nickel prices have soared to their highest level in more than a year while the rest of the base-metals complex is quiet, says Edward Meir, commodities consultant with INTL FCStone. Three-month copper is down 0.1%; meanwhile, nickel was up $356, or $2.1%, to $17,756 a metric ton as of 9:10 a.m. EDT. Meir says an Indonesian ban on ore exports continues to push prices higher. “We are also finally seeing drawdowns in LME inventories, with nickel stocks now down by some 6,000 tons over the past month -- their first sustained decline in almost two years,” Meir says. “More importantly, there are reports that some of the massive nickel ore inventories that have accumulated at Chinese ports are also being whittled lower.” The metal peaked at $17,917 a ton, its strongest level since February 2013.
By Allen Sykora of Kitco News; asykora@kitco.com
Current Nickel Price: $8.0185/lb.
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Doc, I also read somewhere that Asia has stopped the major nickel mines in Asia from even mining the stuff. And that after the current contracts have been filled no more exporting it.
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Well nickel was slaughtered yesterday along with the PMs. But already this AM nickel has regained and then some of that loss. Hmmmmm.. almost like a loud stinking canary when one puts a sheet over the cage to shut them up. However the winds of war must have blown that sheet to Asia?
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