Mark Selby #20 - Nickel Just Keeps Gathering Pace...

October 23 2020, 19:32 GMT+01:00

Mark Selby is back for his weekly insights into the nickel space. There is plenty to talk about this week, so let's get right into it.

The price of nickel has continued on its sharp upward trajectory towards $7.25, or $16,000/t. It  broke out at the end of the holiday week alongside the rest of the metals. The momentum trade experienced continued Chinese demand strength as concerns over constrained supply rose to prominence. Copper is sitting at around $3.10/lb, whilst zinc is as $1.10/lb.

Jinchuan's nickel production levels are significantly down, which is driving premiums higher. With higher premium and higher ore prices, will the nickel price be sustained? Selby gave us his views on the matter. The key nickel triangle of ore, Indonesian nickel pig iron (NPI) and Chinese demand is key for nickel and EV investors. The ore price remains strong, the price of stainless steel remains sideways with inventory increasing. With the Philippines now into rainy season, what outcome does this spell for nickel investors? 

In other news, Nickel Mines Limited signed an MoU for Weda Bay. We discuss the terms and conditions, along with the substantial impact it could have for nickel investors. 

Meanwhile, Norilsk Group have been ramping up production, and we discuss both the numbers and the effect this could have on the nickel market.  

It is a really interesting, informative and important discussion this week, and there is only one place to watch it...

Watch the interview with Mark Selby #20 on Club TV.  

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