Given they wrote the article you love to keep quoting in June and Nickel price is up 25% since then (it was under $13k when they did their report) they are about as correct as Sydney housing bears. By the time Nickel price falls on "surplus stock" the price will still be higher than where they started.
I don't know why you have such a problem with CTM, you spend a lot of time trying to discredit it
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Nickel price to fall in 2020/2021, page-69
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