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Nickel is over $7 today.

Must be from the extra demand in the military industry for armor protection....(read Crimea crisis)

Thanks for the info.

I wonder why the .10+ bounce?

mtalbot_ca wrote:Must be from the extra demand in the military industry for armor protection....(read Crimea crisis)

Thanks for the info.

That was my first thought too.

Hummm, been almost a year below $7.00. Time to put another box up.

Well, that little blip was short lived.

http://www.kitcometals.com/charts/nicke ... rical.html

And yet, the LME warehouse level has never been higher 270,000 tons?

Aaaaaaand, it's back up today.

I think the maximum that the "paper nickel" can move is 5% per day, as the LME limits kick in.

Still, it can definitely hit $23 again in a matter of weeks depending on demand.

270,000 tons sounds like a lot, but compare it to the 500,000 tonnes that Canada ships in grain every week (or is being forced to) and one starts to realize just how relatively rare it is.

http://www.cbc.ca/news/canada/saskatche ... -1.2563566

7.40 now

Anyone know what Canada is doing with the vast supplies of pure nickel it's been recovering from their earlier circulating coinage? Perhaps into a strategic stockpile rather than being made available in the open market.

Know Common Cents wrote:Anyone know what Canada is doing with the vast supplies of pure nickel it's been recovering from their earlier circulating coinage? Perhaps into a strategic stockpile rather than being made available in the open market.

From http://www.brinksinc.com/journalArchive/Brinks_Journal_Issue11.pdf

In 2008, discussions and negotiations commenced to provide
Alloy Recovery Program services (ARP) in Toronto. The ARP
separates steel plated coins from alloy coins in quarters, dimes
and nickels, at which point the Mint demonetizes and sends them
to U.S. smelting operations to extract the specific alloys that will
be for sale on the world market.

Now $8

mtalbot_ca wrote:Must be from the extra demand in the military industry for armor protection....(read Crimea crisis)

Thanks for the info.

Agree. Seems like a logical source. A lot of military posturing.

$8.07 now...Indonesia's ban on exports appears to be a major factor.

Still making a pretty good run. Are you guys still stacking?

John_doe wrote:Still making a pretty good run. Are you guys still stacking?

Yes

John_doe wrote:Still making a pretty good run. Are you guys still stacking?

I have a bag of Dutch and French nickel that is VERY slowly getting heavier. What else (besides Canadian) are the most COMMON nickel coins?

John_doe wrote:Still making a pretty good run. Are you guys still stacking?

Maybe.



Actually I'm selling on consignment, but getting down to the end of my supply. Won't be letting the rest go as cheaply as I have in some of the past KSAs.

natsb88 wrote:

John_doe wrote:Still making a pretty good run. Are you guys still stacking?

Maybe.



Actually I'm selling on consignment, but getting down to the end of my supply. Won't be letting the rest go as cheaply as I have in some of the past KSAs.

Oh fiddlesticks! I'm the only one buying those KSAs.

Stacking and stacking. Now at around 425lbs. I might be tempted to sell or trade some of it.....

I guess I should clarify. Is anyone still stacking US nickels?

I do put back my canadian .999 when I find them.

John_doe wrote:I guess I should clarify. Is anyone still stacking US nickels?

I do put back my canadian .999 when I find them.

I am, although I have slowed down a lot from last year, my main bank cut me off because I don't have a business account.

cooyon wrote:

John_doe wrote:I guess I should clarify. Is anyone still stacking US nickels?

I do put back my canadian .999 when I find them.

I am, although I have slowed down a lot from last year, my main bank cut me off because I don't have a business account.

I run into that in several banks. If they cut me off I pull my reserves from their bank so they can't loan against my money.

Nickel is a wartime/industrial metal. There are more mines scattered around the world than 50 years ago, but with Russia as a huge producer, Indonesia's recent restriction exports, the mothballing and delay in opening new mines, and the high cost of mining, nickel has potential to make a run. China put a cap on the upper limit nickel prices with the development of nickel pig iron when that price went over $20/lb, but if the Philippines gets smart and follows Indonesia's example, China may not find a source of cheap raw material.