You are shameless . Told you yesterday - Telling you again. Long term and short term are 2 very different things.
Long term:- Class 1, Class 2 and Nickel Sulphate - Across all three markets, companies and countries are investing billions to expand capacity because they can see the demand that's coming not only from Mobility but also ESS and Traditional stainless steel.
Short term:- The demand from steel sector has been low due to extraordinary slowdown in Europe and China driven by "short term factors" like ukraine war and china covid restriction that have damaged the consumer sentiments. This has resulted in a very week property sector and surplus capacity for nickel. Bears have exploited this further, as they do, to dent LME prices. (Tsinghan was caught in this very mess)
Saudi's buying stake in Vale's base metal business, Wyloo and BHP going head to head for ring of fire positioning, Japanese consortium's interest in Australia's largest resource (ARL!), BHP buying OZL, China investing billions in Indonesia, Mincor acquisition, western areas acquisition - These people are a lot smarter than you are!
Here is a chart from IMF (Public domain). Or spend some money and look at Benchmark/Fast markets/Woodmac long term reports. I have so I know what I doing.
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Last
44.0¢ |
Change
-0.010(2.22%) |
Mkt cap ! $87.86M |
Open | High | Low | Value | Volume |
44.0¢ | 45.0¢ | 44.0¢ | $12.74K | 28.58K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 15213 | 44.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
45.0¢ | 19504 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15213 | 0.440 |
2 | 26150 | 0.435 |
2 | 40000 | 0.430 |
1 | 1500 | 0.420 |
3 | 44390 | 0.410 |
Price($) | Vol. | No. |
---|---|---|
0.450 | 19504 | 2 |
0.480 | 5000 | 1 |
0.485 | 15000 | 1 |
0.490 | 15000 | 1 |
0.500 | 25000 | 1 |
Last trade - 13.59pm 23/08/2024 (20 minute delay) ? |
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