MARKET TALK: LME Nickel Seen Holding Volatile Range

London Metal Exchange nickel is holding in a volatile range with prices capped by systematic selling on the upside and supported by trade and hedge fund buying on the lower numbers, a broker says. Warehouse stock moves will set the tone for trade, with a further increase likely to unnerve players, he notes. LME stocks are currently 3,654 metric tons, with just 3,024 tons or one days' consumption available to the market. LME nickel trades last at $35,500/ton after moving in a 6% range Thursday.