Nickel needs good signs

THE nickel price is apparently more than 50% lower than a consensus of analysts expected at the start of the year – according to Bloomberg – with lower stockpiles of the stuff and stronger signs of a recovery in stainless steel demand desperately needed. Seeing Australia’s premier nickel miner Western Areas slipping below the $2 per share mark for a time today further emphasised the current malaise – even if only on a headline basis in this case.