The nickel market is an important indicator of the global economy. Not only is it used in stainless steel or in the electroplating of steel, but also increasingly in electric driving. Here, Elon Musk, CEO of Tesla, had just identified a global shortage of nickel.
But what else is being reported? We have selected two current news items.
Vale returns to profit and sees ‘dramatic opportunity’ for nickel
Brazilian miner Vale has paid a dividend and reported a profit for the December quarter, despite the impact of the global settlement for the Brumadinho dam disaster.
Nickel market: outlook for opportunities
In addition to Vale’s latest corporate figures, the article from mining-journal.com also gives an outlook on possible developments in the nickel market. And how electric driving can have an impact on it.
Electric vehicle market to grow dramatically
Executive officer base metals Mark Travers told analysts in a conference call there was “great evidence” the electric vehicle market was here and going to grow dramatically over the coming years. “And it’s going to be a dramatic opportunity for the nickel business,” he said.
Chinese nickel sulfate price sets new all-time high
China’s nickel sulfate price continued to rise in the week to Friday, Feb. 26, hitting a new record high, mainly due to the volatile nickel price on the London Metal Exchange and limited supply, sources told Fastmarkets in an article on their website.
Nickel sulfate price increased by 5.8%
The Fastmarkets price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China was 35,000-38,000 yuan ($5,414-5,878) per ton on Friday, February 26, up 1,000-3,000 yuan per ton or 5.8% from 34,000-35,000 yuan per ton on February 19.
Nickel sulfate price at the highest level since July 2018.
China’s nickel sulfate price continued to break records and is at its highest level since Fastmarkets began tracking the market in July 2018.
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