Have a great day
Indications
Nickel 3 month $8.095
Cash Last $8.001
Euro 1.160
Yen 160.32
gold $4341.57
silver $70.35
Copper LME $6.212
Copper Comex $6.485
Cobalt $ 27.75 -30.50
Zinc $ 1.608
Tin $ 25.02
Crude $ 78.34 down 3.46%
Dow Jones up .92%
FTSE 100 up .52%
Dax up .48%
Hang Seng down 1.40%
Nikkei up .13%
U.S. Dollar index 99.60 down .04%
Quote of the Day
Life would be infinitely happier if we could only be born at the age of eighty and gradually approach eighteen.— Mark Twain
Word of the Day
Today’s Word of the Day is: honcho, meaning “boss” or “hotshot.”
Trivia
What is the national animal of Scotland?
Answer: at bottom of page under good read.
News of Interest
- Markets: The vibes were good as Wall Streeters started a short week yesterday, with stocks soaring as oil fell amid optimism that the deal struck between the US and Iran would end the hostilities impacting the global economy. The Dow clinched a new record, the Nasdaq had its best day since the end of March, and SpaceX continued reaching for the stars following its triumphant debut last week.
In its first World Cup match yesterday, tiny island chain Cape Verde shocked soccer fans everywhere by playing powerhouse Spain to a 0–0 draw.
Gas prices fell below $4 for the first time since April amid Iran deal optimism. As oil prices dropped following the news of a preliminary peace deal between the US and Iran, US national average retail gasoline prices fell to $3.997 a gallon on Sunday, according to data from GasBuddy, though Reuters reports prices are still up nearly 91 cents from a year ago. The details of the deal remained largely unknown yesterday, even after President Trump said it was “all signed.” And difficult issues, including the status of Iran’s nuclear program, have been left to future negotiations. There also seem to be disagreements about the deal’s impact on Israel’s fight with Hezbollah in Lebanon. Plus, getting oil traveling through the Strait of Hormuz at pre-war levels could still take weeks or even months, per AP.
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And the Kendall Jenner Pepsi Award for Insensitive Marketing Campaign goes to Starbucks Korea: After launching a promotion that was widely criticized for making light of an infamous massacre, the coffee giant’s South Korean stores will close early next Monday for mandatory history and sensitivity training, Starbucks Korea announced yesterday. What happened: To celebrate its new steel “Tank” coffee tumblers, Starbucks Korea declared “Tank Day” on May 18…the anniversary of the country’s 1980 military crackdown that killed hundreds of pro-democracy protesters in Gwangju. It gets worse: The campaign’s slogan, “Thwack it on the table!” mirrored a false statement police gave after killing a pro-democracy student years later. Marketers reportedly chose it after asking AI for suggestions. Starbucks Korea canceled the campaign and fired its CEO within hours, but the damage was done:
“We are deeply sorry for an unacceptable marketing incident,” Starbucks Corporation said. The coffee giant licenses its brand in South Korea (its third-largest market), but doesn’t hold equity there.—ML |
Nickel & Related Metal News
N ickel's early-year rally is a collective bet that Indonesia's multi-year production surge is finally abating, allowing the market to rebalance after four consecutive years of oversupply. But a growing mountain of surplus metal accumulating in London Metal Exchange (LME) and Shanghai Futures Exchange (ShFE) warehouses is a reminder that this could be a slow-fuse process. Combined exchange inventory stands at 468,600 tonnes, the largest stock overhang since 2015 and equivalent to around six weeks of global usage. The rate of growth has slowed as LME-registered stocks plateau out. But the rise in Shanghai inventory has been simultaneously accelerating, suggesting the refined nickel surplus is now migrating eastward. LME nickel stocks, including off-warrant inventory, rose for nine straight months between June last year and March, when they topped out just below the 400,000-tonne level.
This article was published in thejakartapost.com with the title "". Click to read: https://www.thejakartapost.com/opinion/2026/06/12/nickels-recovery-hopes-tempered-by-growing-stock-overhang.
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Good Read
Answer to today's trivia question:The unicorn
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Engineered nanoparticles effectively kill aggressive prostate cancer and strengthen immunity in a preclinical trial; five out of 10 mice see complete remission after three treatments (More) |
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