FYIStock HeadAccording to Bloomberg, The London Metal Exchange...

FYI
Stock Head
According to Bloomberg, The London Metal Exchange entered 2023 with the smallest available warehouse stockpiles in at least 25 years.Shortages were also witnessed over at Chinese ports as the country moved towards a reopening, causing the nickel price to jump from $22,000 a tonne to $28,000 a tonne.VP Capital’s John So says this trajectory is likely to continue.“China’s reopening is going to keep gaining momentum and as a result, that is going to underpin demand for the biggest battery users in the nickel space which is electric vehicles,” he says.“We are also seeing the same momentum in Europe, which has never really dropped off to begin with.“Meanwhile, China is stimulating its construction sector by reducing fiscal and monetary constraints around lending and holding of real estate stock and soon enough the property market will stabilise.”From his point of view, when this happens the demand for nickel is going to soar as companies start to re-engage suppliers for purchasing material such as stainless steel.“All of this is positive and is going to have an effect on driving prices higher, making it more and more scarce,” he adds.