The lustrous transition metal is on track to post its best quarterly performance in a decade. As media headlines swirl around the emerging demand for electric vehicles (EVs), many wonder if this clamour can keep the market’s trend climbing.
It’s a supply story that traders are watching closely for how it is performing versus the other metals in this space, which currently appears to be seeing under-investment, according to analysts.
One key facet to this jump for the resource comes from the world’s largest nickel exporter - Indonesia - and it’s year-end ban on exports of raw ore.
WSA Price at posting:
$3.06 Sentiment: Buy Disclosure: Held