Recession. The primary use for nickel is in stainless steel and other alloys. That includes machinery, medical equipment, engines, domestic products. Recession hits nickel hard. EU is 100% going into recession, the USA is very likely to. I think it will be short/sharp, but nickel will tumble in the short term.
IMO NIC share might head back towards 50 cents in the short term (12-18 months). Not trying to fearmonger, just my opinion. That is the key driver of the poor share performance recently. It's still a good long hold at this price imo, hence the buy rating,
Why ?, page-14
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Last
83.0¢ |
Change
0.005(0.61%) |
Mkt cap ! $3.557B | |||
| Open | High | Low | Value | Volume |
| 84.0¢ | 84.5¢ | 82.5¢ | $5.094M | 6.114M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 68103 | 83.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.5¢ | 157856 | 7 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| NIC (ASX) Chart |