MARKET TALK: LME Nickel Finds Fundamental Support At Highs

LME nickel holds at record highs as further falls in inventory, a lack of fresh supply and reports of a potential new strike at Voisey Bay by mid-April underpin prices, a broker notes. System-driven and trade buyers remain positive towards the market after a bout of profit-taking that pushed prices some 18% lower than current levels, he says. LME nickel is last at $48,500 a metric ton, +6% from Tuesday.