MARKET TALK: LME Nickel Cash Contract Targets $45,000

LME cash nickel quoted at $41,201.50/ton, +$1.50 on London PM kerb but untraded in Asia; sentiment bullish despite pullback overnight with market "preparing for next move" to $45,000, says Singapore-based trader. Stocks extremely low with no stocks available in Singapore LME warehouses; total stocks at LME warehouses worldwide just 5,016 tons, falling 24.5% in London Wednesday, now about 1 day consumption, with canceled warrant ratio 38%. 3-month nickel at $37,449/ton, +$99 on PM kerb after dropping $350 in London.