Nickel Dominant Position Will Support Prices, Agricole Says
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Nickel, the worst performer on the London Metal Exchange this year, may find support from the so-called dominant position of 80 percent to 89 percent, according to Credit Agricole SA.
One party held that share of nickel stockpile holdings and open positions for the next three trading days as of Nov. 18, according to the Warrant Tom Banding Report published by the LME today. The position first increased from 50 percent to 79 percent on Nov. 14. A sole party also held at least 40 percent of the nickel short positions, or bets prices will fall, expiring in February.