Ed's Thread

[McBeanburger]

Got Nickel?

LME nickel ends the day at $6.75/lb.
* The Australian Bureau of Agricultural and Resource Economics predicts nickel mine production is expected to increase 3.2% in the next 12 months. It is also predicting the current upswing in prices will continue in the latter half of 2004.
* Yahoo Finance has published an article this AM quoting some new price predictions for nickel. They are also advising that 1,464 tonnes of the 8,298 tonnes we listed this morning as LME inventory is cancelled warrant - meaning it doesn't exist and will be removed in the coming days. With the current usage sucking nearly 1000 tons a week, and a nearly 1500 ton write-off approaching, you cna understand why experts are calling the current inventory levels "critical". ANZ Investment Bank is predicting the current up-trend in pricing will exceed the Jan 6 high of $8.06/lb. Macquarie Research, one of the most well known and respected research group's, is now predicitng nickel will average $6.80 to $7.70/lb during the next 6 - 12 months, but even they admit "the sky is the limit" in the panic market we are witnessing. Both expect downward adjustements, as the market is overheating, but they estimate these adjustements will be temporary. If this proves true, then the slight decreases we are now starting to see overseas in stainless steel pricing will end, and we could see stainless steel climb even higher by winter.
* Nickle opened the week strong again this week after stocks of LME nickel fell 186 tonnes Friday to 8,298/tonnes. These low levels were last seen in October 1991, and some industry experts say they are reaching "critically" low levels. Selling at $6.85/lb at 8:30 EST.

http://www.marfas.com/newsarchive.shtml


Any one done some DD on BLV.V? They have some interesting nickel projects.