MARKET TALK: Nickel Stock Rise Flags Possible Bearish Risk

Nickel sentiment dented by rise in LME stocks of more than 530 tons yesterday, market to monitor crucial technical support at 50-day moving average $34,425/ton, says BNP Paribas. LME 3-month nickel untraded in Asia, last at $35,550/ton, +$100 on London PM kerb after dropping $400 overnight, though nickel in London bounced back from day's low $35,450 near 50-day moving average as outlook for nickel still tight.