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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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May 2018 | Base Metals


Nickel: Getting bullish again


Nickel prices are looking stronger again having convincingly broken up through the $14,000 per tonne level this week. Sentiment seems to be getting a lift from bullish talk about the electric vehicle (EV) revolution at LME Week Asia, which is reminiscent of the EV excitement that engulfed nickel around the time of LME Week in London last October.

Déjà vu: LME Week and EV bullishness Nickel prices are looking stronger again having convincingly broken up through the $14,000 per tonne level this week to trade around $14,500 per tonne. Sentiment seems to be getting a lift from bullish talk about the electric vehicle (EV) revolution at LME Week Asia. This is somewhat reminiscent of the EV excitement that engulfed nickel around the time of LME Week in London last October. Bullish call options in play Nickel’s cash/three-month spread has loosened to $69 per tonne from $60 per tonne seen at the start of the trading week. This suggests that most of the short-covering has run its course while prices may have been rising due to fresh buying interest. Furthermore, June 2018 call option interest with a...

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