MARKET TALK: LME Nickel Upside Intact As Spreads Tighten

Tightening spreads in LME nickel and renewed upside vigor in the base metals complex is likely to push the metal higher once more even if volumes remain relatively modest, a London broker says. "A crack at the $50,000-metric ton level looks quite possible, although I'm not sure I'd have the nerve to be long at this altitude," he adds. LME nickel is last at $48,400/ton, +5% from Tuesday's low.