Nickel pressure building, Lookout 2020.

5 year LME Nickel Stock has fallen from a peak of 470,000 tonnes in 2015 to around 260,000 tonnes today and falling quickly.

Nickel stock at the LME has fallen by half in 3 years due to rising demand while price pressure has caused upward momentum.

The EV industry is rapidly ramping up and demand for Nickel is increasing as it is one of the major components in LMH batteries.

Nickel prices have ramped up over that period from $USD 5 per pound to the first peak of $USD 7 per pound and then eased back due to trade war fears to $USD 6 per pound.

So Nickel currently at around $USD 13,440 per tonne.

Forecast is that Nickel will ramp up to $USD 26,000 per tonne in 2 years. Double what it is today.

Upward pressure will see the price of Nickel, Copper, Cobalt all rise.

Cash from Cobalt 27 is imminent and cash-flow has already started from the deal from end of June.

No wonder the chart is bullish and the recent breakout is just the beginning.

GLTAH.