https://smallcaps.com.au/
Nickel is unlikely to soon test its all-time high of US$50,000 a tonne reached earlier this year when a Chinese billionaire was caught in a spectacular short squeeze, but there are early signs of conditions developing which point to a price bounce.
The major issues with nickel are reliability and quality of supply, with both stoking a slow-burning fire under a metal once used mainly in the production of stainless steel but increasingly as an ingredient in batteries.
A pointer to nickel getting ready for its next price break-out event is its status as the only base metal to be selling today for a higher price than 12-months ago. Copper, zinc and aluminium, other members of the base metal family, have all declined since last October.
Another reason why investors should keep an eye on nickel is that the world’s two biggest mining companies, BHP (ASX: BHP) and Rio Tinto (ASX: RIO), have singled it out as one of their preferred metals for future growth – as has the iron ore billionaire turned green energy enthusiast, Andrew Forrest.
For the rest of this article: https://smallcaps.com.au/nickel-primed-another-price-bounce-amid-fears-russian-nickel-ban/