Nickel's been on quite a run lately—just popped over 10% to hit three-year highs, and it's actually pretty interesting what's driving it. You've got aggressive buying coming out of China on one side, which is always a significant move in the commodities space. At the same time, supply concerns bubbling up from Indonesia are adding real pressure to the upside. What's wild is that even with an oversupplied market backdrop, these factors are strong enough to push the entire metals complex higher. It's one of those moments where you see specific catalysts overpower the broader structural picture. For anyone watching macro trends and how they ripple through different asset classes, this nickel move is worth paying attention to—it reflects both demand strength from the world's largest industrial consumer and genuine supply-side nervousness.