MARKET TALK: LME Nickel May Hit $40,000 On Strike Talk

LME 3-month nickel last at $35,500/ton, down $300 from London PM kerb in muted trade but with sentiment broadly bullish as stocks at LME warehouses at just 1.5 days consumption; possibility of strike tomorrow at Xstrata's Sudbury nickel operations keeping market on edge, rally to $40,000 possible, says CBA, after yesterday's record high of $36,050. "In a market that is struggling to keep up, a potential strike at the Sudbury facility means buyers have to go to great lengths to woo sellers."