At the end of October, various investors predicted that the hardest times for the nickel market had passed, the most severe damage of the financial crisis had already occurred, and the wounds of the nickel market were healing. However, the harsh reality was unbearable. In the 18 trading days since November (up to November 26), the LME mixed nickel closed with 13 green downward lines (as shown in Figure 1). The closing price on October 31 was $12,400 per ton, while the closing price on November 26 was $10,700 per ton, a decline of as high as 13.7%. As can be seen from Figure 1, the recent nickel market is...