Kalgoorlie The nickel price has been on a slow rising trend for the last four months up from a low of US$3.42 per lb to US$4.21 per lb, a rise of 23% which although only about A$2340 per ton an increase nonetheless.
At the same time the LME stockpile has continued to fall to less than 382,000 tons, down from a high of 470,000 in June last year so some 88,000 tons all up, but the trend line down has accelerated since January 2016 as over the last six months the reserves have dropped 70,000 tons at a rate of over 11,500 tons a month.
It looks like a trend has now been established so as the stockpile continues to fall pressure on the price will increase auguring well for the second half of 2016 and into 2017.
