London Metal Exchange nickel is drifting sideways to lower as a lack of news overnight from Xstrata (XTA.LN) or the Sudbury union confines activity in the metal, a broker notes. This slide lower is despite further declines in stocks and a worsening apparent physical tightness, he adds, with under one day's global consumption of metal left in warehouses. LME nickel trades last at $36,900 a metric ton, down from a record high of $38,950/ton last week and a 1% decline on the day.