Ralph, looks like it's down to the two of us again, the proud, but broke CMR bulls.
As with almost every day, more fascinating news. WMC is now marketing Ni on the internet. If any of our silent readers own seats on the LME, you may wish to unload now.
Given WMC's production, it's gonna be real hard for the US funds, London houses (and dare I say it) INCO to manipulate prices with a competing exchange.
Of interest WMC is quoting briquettes at 8c over LME, and China says they are short Ni, and that the domestic Chinese price has gone from approx 7299/tonne to about 7400/tonne. LME Ni up 4c this afternoon to approx 6850/tonne (3.162 per lb), 90 day basis.
Lots of news that the Manitoba Steelworkers are big time pissed at INCO (something about getting hosed in January, and now being offered table scraps). Somebody north of the border fill me in; don't you get full unemployment benefits in Manitoba if you go on strike, or is that just if you're an autoworker in Oakville? What happens to Ni prices if both sides decide to be tough guys?
Increasing rumors that China is about to invade Taiwan. As they are somewhat weak in terms of amphibious assault, attack to be led by 1000 missiles. Do you need Co in missile engines? Is this related to Chinese Ni-Co conference in October?
Could actually pick up CBC1 yesterday (too bad I can't get it in hockey season). Big discussion on germ warfare. Guess who used it on a large scale? Our friends the Japanese. Seems they murdered 10,000 American, British and Canadian POW's in experiments in Manchuria, and then attacked somewhere between 8-12 Chinese cities with biologic weapons.
Well, in this post industrial world, where everybody gets along, I guess we should let bygones be bygones. The US seized the research from the Japanese and never prosecuted, so I guess it didn't bother them.
But I have a question. If you were the Japanese govt. and China took Formosa (oh sorry, Taiwan, it was Formosa when it was Japanese) with a missile launched attack, would you be nervous? Would you increase defence spending? Or have all Japanese been so brainwashed that they were innocents in war who the nasty Americans nuked, that even the govt has no idea of Chinese hatred? |
