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All due respect to your call Kennas, it is a valid one..

Firstly, as you said Nickle is being used in stainless steel production but the demand now has turned to auto battery storage, since it is the lightest conductive metal used to store DC current (the hint is lightest). Sure the housing market, around the world has slowed but short of a World Recession/Depression, the market will recover (1-2 years) and bingo demand will increase and exacerbate the price even further.

Secondly, yes new mines are coming into production (some are large producers) but again, a couple will be closing down over the next 2 years. Just compare the recent price rise when BHP decided to closed one of it's mines for a couple of months for servicing.

If the world economy was that bad, how in hell did the major Coal and Fe produers manage to convince their suppliers with greater than 50% increases in prices..

Sorry Guys, It just doesn't add up.................