1. Ni finished at US 20050 pt last night- an important psychological level. Highest price since c.14.9.23.
Commodities - Live Quote Price Trading Data (tradingeconomics.com)
It will, IMO, probably fall below US $20k a few more times, before heading well above the US$ 20k pt price again.
To have a meaningful effect on QPM, & to possibly revive the TECH (which would provide a boost to QPM's SP), it will need to consolidate at $US $20k pt + for at least, IMO, 2 months. This will add credibility that the Ni uptrend is enduring, & is not a fleeting phenomenon.
A rise to c.US $25k pt, IF it were to occur, would very likely be a major boost to QPM's SP & TECH...particularly with the Fed. Govt's 14.5.24 new $7bn funding grants, to promote critical minerals production & refining (value-add) in Australia.
2. More pressure is being applied by western countries to "stigmatise & punish" (my words) cheap, but dirty, Indon Ni laterite ores, being processed by China, that enable the Chinese to make cheap (but not ESG compliant) EV's- which have the potential, if not checked, to flood western markets..
Fastmarkets A. Hotter 23.12.23 said
"The US Foreign Entity Of Concerndefinition (applies to China, not Indonesia- my words) leaves most Indonesian nickel outside IRA tax credits | Hotter Commodities.
The US Department of Treasury has released its definition of a Foreign Entity of Concern (FEOC) for the purposes of the Inflation Reduction Act (IRA) – and there are big implications for nickel....
The FEOC Rules pretty much put an END (my emphasis) to market assumptions that a wall of Indonesian nickel will be available to enter the US battery supply chain. It won't be- at least not with the generous tax credits available under the IRA"
https://www.fastmarkets.com/insights/feoc-definition-leaves-indonesian-nickel-outside-ira-tax-credits-andrea-hotter/
The EU & UK are also considering similar measures, so its citizens are also able to buy EV's that are truly ESG compliant (ie no dirty Ni laterite batteries etc.); & are at competitive prices with the Chinese EV imports, so the very large EU auto manufacturing industry is protected.
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Last
3.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $75.63M |
Open | High | Low | Value | Volume |
3.2¢ | 3.2¢ | 3.0¢ | $128.8K | 4.159M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 1101933 | 3.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.1¢ | 531306 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 1101933 | 0.030 |
13 | 1309677 | 0.029 |
5 | 522553 | 0.028 |
1 | 400000 | 0.027 |
1 | 450000 | 0.026 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 531306 | 3 |
0.032 | 10000 | 1 |
0.033 | 52610 | 2 |
0.034 | 476949 | 7 |
0.035 | 347111 | 2 |
Last trade - 14.53pm 05/09/2024 (20 minute delay) ? |
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