MARKET TALK: LME Nickel Strong Tone But Looks Overdone

LME nickel maintains strong fundamentals but market talk of large stock deliveries could mean it's "time to get out, the market is starting to look overdone," says a trader. More complex nickel production than aluminum or copper means "taps can't be as easily turned on or off," though China importing large amount of low-grade nickel to make pig iron could take heat off nickel in medium term, he says. LME 3-month nickel last trades at $42,800/ton, down $45 vs Thursday PM kerb.