MARKET TALK: Nickel Awaits Xstrata Talks; Outlook Bullish

LME 3-month nickel last at $35,100/ton, down $400 vs London PM kerb but likely to regain losses when London opens as short-term outlook "very bullish," says Tokyo-based trader; however, big gains unlikely as market awaiting result of labor talks at Xstrata's Sudbury nickel mine, with potential strike Saturday if talks fail. Trader says market expecting negotiations to be difficult, positive for nickel short-term, with rally to $37,000 possible after yesterday's new high above $35,000.