MARKET TALK: LME Nickel Unlikely To Pullback From $50,000

LME 3-month nickel regains $50,000/ton, last at record-high $50,075/ton, +$675 on London Thursday PM kerb. Shanghai-based trader says nickel unlikely to retreat from $50,000 level, which has been target for nickel for past month; LME 3-month nickel touched $50,000 last Thursday for first time before retreating to close at $49,400/ton. "As long as the charts remain strong, I don't think we (the market) should focus on a pullback." Bullish momentum in copper, zinc also adding to market confidence, speculative buying interest.