MARKET TALK: LME Nickel Bullish, Shows No Signs Of Reversal

LME nickel shows no signs of reversing upward momentum, despite weakness in global stock markets, as stocks at such low levels consumers which are short have to buy at incredibly high prices. LME 3-month nickel at $44,800/ton, untraded in Asia, unchanged on London PM kerb. Trader notes nickel can still go higher as producers yet to show serious signs of being unable to sell output. "If producers had trouble selling, there would be more stocks in the market," he says. "People are still buying."