Nickel price hasn't been increasing as expected and now has gone well below 6US/lb currently at 5.71US/lb (MBN were selling at 6.6US/lb in Q1). However, MBN did estimate 6.5 in Q2 and Q3 and only start increasing to 7.5+ after Q3 whereas other analyst predict the increase to starting at H2 instead of Q3.
So no-one knows if/when nickel price will increase and some analyst are saying its possible China has stock piled more low grade nickel before the Indonesia ban then the market were estimating but I think MBN is in the best position to handle any further nickel price decrease in the future (if it happens) due to the economy./recession in Brazil later this year and next few years, resulting in further devalue of the REAL during this period.
MBN Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held