I have no idea, but the fundamentals remain and the speculative news( or not), about the Indonesian ban too.
CTA Positioning Estimate is at 40%
The nickel spot price has fallen off a cliff just before the close. It looks like it will finish around $6.7351/lb. having hit $7.02/lb earlier.
And the markets are not rigged? Yeh right
Yet the LME isn’t showing any significant action to reflect the price rise. The live warrants total has actually gone up today.
If the ban is brought forward the rise will be consolidated but if it doesn’t it will collapse faster than a speeding bullet.
H2 2019 for EVs in China looks like its going to be a bit of a stinker…
…until this kicks in.