Nickel was trading at around $US22,064 a tonne on the London Metal Exchange late on Thursday and is up 10 per cent for the week after receiving a boost from Tesla’s deal with US-focused Talon Metals to secure more supplies for the batteries powering its electric vehicles.
Demand has also been enhanced by Indonesia’s announcement it is considering a tax on nickel exports, a move which is seen raising costs for overseas refiners and possibly pushing prices higher.
The gains have been recorded against a backdrop of pandemic-triggered production and supply chain disruptions that have triggered new concerns about shortages of key metals.
Bloomberg noted Goldman Sachs is tipping deficits across all refined metals, raising its 12-month targets for aluminium, copper and zinc.
“A much tighter starting point for the market alongside strong EV trends,” plus a continuation of the supply shortage, would support higher nickel prices, the bank’s analysts said.
With Goldman Sachs not expecting fresh supplies to meet demand in 2022, it has widened its forecast deficit to 30,000 tonnes from 13,000 tonnes earlier but left its price tip for nickel unchanged at $US24,000/t.
Shares in IGO, which struck a $1.1 billion agreed takeover of nickel miner Western Areas last month, hit a record $12.64 before closing nearly 4 per cent, or 38¢, better at $12.45.
Sydney-based Nickel Mines added 5 per cent, also closing at a record $1.63. Mincor, which stacked on more than 5 per cent on Wednesday, rose half a cent to $1.87, having also hit a 14½-year peak of $1.935 earlier.
- Forums
- ASX - By Stock
- CTM
- CTM Chart 2022
CTM Chart 2022, page-73
-
- There are more pages in this discussion • 499 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CTM (ASX) to my watchlist
(20min delay)
|
|||||
Last
49.5¢ |
Change
-0.045(8.33%) |
Mkt cap ! $245.8M |
Open | High | Low | Value | Volume |
51.5¢ | 52.5¢ | 49.5¢ | $189.8K | 375.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 19999 | 49.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 1375 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19999 | 0.495 |
4 | 62716 | 0.490 |
2 | 52000 | 0.485 |
2 | 15000 | 0.480 |
2 | 9600 | 0.460 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 1375 | 1 |
0.510 | 30000 | 1 |
0.520 | 18175 | 1 |
0.525 | 50000 | 1 |
0.540 | 22250 | 2 |
Last trade - 16.10pm 16/10/2024 (20 minute delay) ? |
Featured News
NEWS
Deep drilling at Mulga Bill confirms gold to 500m depth, indicating further exploration potential
BM8
Learn of the ASX-listed company that is well-placed to respond to the future global energy demand
CTM (ASX) Chart |
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online