The nickel price is above 8$/lb and that is pretty good.

Even with economic growth there are several additional sources of nickel that can fill this increasing demand. Right now Sudbury Vale-Inco and Falcondo Xstrata Nickel are both basically shut down. Vale-Inco Goro's mine in New Caledonia is planning to start up early 2010 and the formerly shut down Ravensthorpe Australian nickel mine may be up and running in about 18 months. Vale Inco's Onca Puma in Brazil may also start up in some time. On top of that we have Xstrata's Koniambo mine, also New Caledonia, that over a longer time horizon will also add to the nickel capacity.

With all this nickel capacity it is unlikely that there will be any sustained higher prices in the short and medium term and I think the big players are happy as long as the nickel price stays above 6-8 $/lb. As long as the energy costs do not increase again, they should be profitable at these prices. So yes I expect pretty stable prices going forward as long as the economy keeps on showing some growth.

The ROF is a longer term prospect and should IMO progress pretty independently of what happens in the short term. If they find enough nickel ore it will be developed, but it will take time.