Nickel price up ~76% overnight touching 15-year highs.
Oil, wheat, nickel storm higher on fears of supply chaos
We have been investing in exploration stocks for over 20+ years but have never seen anything like the move in the nickel price overnight.
At one point the spot price for nickel in London was up ~76% to 15-year highs of US$51,000/tonne. This type of move intraday is almost unheard of in commodity markets let alone in a metal like nickel.
We think that a part of the move overnight comes from the escalation with the Russia/Ukraine situation as Russia makes up ~10% of global nickel supply but also has something to do with the structural tailwinds for nickel demand with it being a critical metal for the production of EV batteries.
At the moment ~7% of nickel demand comes from the battery manufacturing sector, long time readers will know that we have been investing in nickel exploration stocks anticipating the exponential uplift in demand as the sector scales up.
Below is a list of all of our investments with exposure to nickel.
Kuniko (ASX:KNI) - This is why we invested
- Zero Carbon Copper, nickel, cobalt and lithium, European Union (Norway)
Galileo Mining (ASX: GAL) - This is why we invested
- Nickel-Copper-PGE, WA (Australia)
Pursuit Minerals (ASX:PUR) - Memo coming soon
- PGE, Nickel and Copper (Australia)
Mandrake Resources (ASX: MAN) - Memo coming soon (Catalyst Hunter portfolio)
- Nickel, Copper, PGE, WA (Australia)
Aldoro Resources (ASX:ARN) - This is why we invested (Catalyst Hunter portfolio)
- Nickel, PGE, Rubidium and Lithium, WA (Australia)
Auroch Minerals (ASX: AOU) - Memo coming soon (Wise Owl portfolio)
- Nickel, Exploration Stage, WA (Australia)
