"Nickel (figure 4) has continued to perform strongly finishing the week at around US$8.60/lb with tighter LME spreads pointing to emerging physical tightness, diminishing LME stockpiles (figure 5).US$20K per tonne looking likely in the near term.Nickel is likely to be a significant beneficiary due to EV battery re-stocking and is generally stronger anyway in Q3 as Chinese stainless comes on top of already elevated levels of output and end demand.As I indicated last week, supply disruptions in New Caledonia and Indonesian supply concerns (on the back of surging Covid-19 cases and possible NPI restrictions) together with Russian export taxes are likely to put significant upward pressure on nickel prices.FIGURE 4: 1 year spot nickel (Source: www.*****metals.com, 16 July 2021).FIGURE 5: 1 year LME Nickel Warehouse Stocks Level (Source: www.*****metals.com, 16 July 2021)."
Recent article also some news today of BHP and Tesla.
The macrometrics look promising......
"Nickel (figure 4) has continued to perform strongly finishing...
Add ESR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.4¢ |
Change
-0.001(11.1%) |
Mkt cap ! $7.037M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $1.25K | 300.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 2829374 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 4124039 | 8 |
View Market Depth
| Last trade - 15.11pm 11/07/2024 (20 minute delay) ? |
| ESR (ASX) Chart |