MARKET TALK: LME Nickel Vulnerable To Technical Selling

LME nickel looks vulnerable to technical selling with a move below $35,500/ton seen likely amid generally quiet trade, a London broker notes. The release of LME inventory data at 0900 GMT will provide near-term direction, he says, with stocks at critically low levels and demand set to outstrip supplies again in '07. LME nickel trades last at $35,700/ton, down $150/ton on the London close Wednesday.