This excerpt is from Casey Research. I don't think we need to look any further to explain our slide down. Actually the price seems to be holding pretty well considering. This is not the best times for nickel, or steel. This continues to be a good time to buy and hold. When she bounces back, she will do so with a vengeance.

IMO

BK

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From Casey reports

Meanwhile, nickel prolonged a four-day slide on speculation demand will deteriorate as stainless-steel makers deplete inventories of the metal until they get some sign that economic growth is returning.

Demand for nickel will fall 15% this quarter from a year earlier and 10% in the next quarter, according to estimates from Barclays Capital. And Posco, Asia’s biggest stainless-steel maker, cut prices last week for the first time since August, in an effort to up demand.

“We are clearly anxious over the coming quarters, and the market is remaining quite weak,” said Philippe Smits, of stainless-steel warehouse company Contisteel NV/SA in Belgium. “I’m not getting signs things are improving.”