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'[TECH] Nickel prices'
2008\08\01@141937 by Vitaliy

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Apptech wrote:
> Will have relevance to many people here.
> Interesting to see how "markets" play fast and loose with
> our craft.

Why the double quotes? :)

{Quote hidden}

The graphs are actually an excellent example of basic economic principles at
work. :-) The price spike concides perfectly with the dip in warehouse
stocks levels.

I'm not sure exactly what happened, but it was either (A) increase in demand
(B) reduction in supply or (C) both. Let us know what you find out, Russell.
:)

Vitaliy

2008\08\01@145745 by sergio masci

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On Fri, 1 Aug 2008, Vitaliy wrote:

> I'm not sure exactly what happened, but it was either (A) increase in demand
> (B) reduction in supply or (C) both. Let us know what you find out, Russell.
> :)

You forgot (D) manipulation of the market

Regards
Sergio Masci

2008\08\02@003207 by Vitaliy

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sergio masci wrote:
>> I'm not sure exactly what happened, but it was either (A) increase in
>> demand
>> (B) reduction in supply or (C) both. Let us know what you find out,
>> Russell.
>> :)
>
> You forgot (D) manipulation of the market

Which is a special case of (B). :)

For a commodity like nickel, extremely unlikely (also supported by Tony
Smith's explanation).

2008\08\02@032454 by Tony Smith

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> sergio masci wrote:
> >> I'm not sure exactly what happened, but it was either (A)
> increase in
> >> demand
> >> (B) reduction in supply or (C) both. Let us know what you
> find out,
> >> Russell.
> >> :)
> >
> > You forgot (D) manipulation of the market
>
> Which is a special case of (B). :)


B & D are indeed related.

BHP in Australia shut down a plant a few months ago, causing a rise in
prices.  Although there are many nickel suppliers worldwide, you could still
rig the market as supply is tight.  It doesn't really work for some other
metals, eg gold, as it's essentially a useless metal.  The Australian
Goverenment once did the opposite, it dumped a lot of gold, making the price
drop.

Another reason nickel prices are falling is due to second sourcing, since
the price has been high enough for long enough, low yield areas (Asia) are
coming on-line.  It's a bit like when oil prices go up, people start taking
about mining shale oil.  That never seems to happen though.

Tony

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