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It would be interesting to know what the LME reserve of nickel is, they seem to have stopped publishing it, but 6_12 months ago it was getting very low.
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Kitco seems to have the LME charts.
LME nickel stocks off the historic lows but have been stable in 2020 so far.
LME nickel stocks off the historic lows but have been stable in 2020 so far.
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Hi Peter, nickel is becoming an issue Elon Musk is giving it some airplay.
https://www.bnnbloomberg.ca/musk-promises-giant-contract-for-efficiently-mined-nickel-1.1469461
It would also indicate, that the new battery technology he continually mentions, also is dependent on a high nickel content.
As he is calling for a 'Giant' contract, for a long period of time.
tinhat
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Because of the age of my eyeballs, I use the enlarged Kitco charts:
http://www.kitcometals.com/charts/nickel_historical_large.html
and for copper
http://www.kitcometals.com/charts/copper_historical_large.html
Nickel is so volatile and still mainly leveraged to the stainless steel industry cycle. I would not be surprised if we see a head and shoulders play out over the medium term (ie we see a retracement)
http://www.kitcometals.com/charts/nickel_historical_large.html
and for copper
http://www.kitcometals.com/charts/copper_historical_large.html
Nickel is so volatile and still mainly leveraged to the stainless steel industry cycle. I would not be surprised if we see a head and shoulders play out over the medium term (ie we see a retracement)
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Nickel goes hand in hand with war cry.with the new cold war between US and China becoming warmer,i i s some good prospects for nickel.
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BHP Kwinana refinery sulphate plant expansion looks close to finished.
www.australianmining.com.au
Also sounds as though the Kalgoorlie nickel smelter is to get a multi million dollar upgrade.
BHP nears completion of Nickel West plant
BHP has confirmed that it will open its Nickel West sulphate plant in Western Australia this financial year after the development was delayed.
www.australianmining.com.au
Also sounds as though the Kalgoorlie nickel smelter is to get a multi million dollar upgrade.
Value Collector
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Elon musk begging miners to mine more nickel.
Dona Ferentes
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ELON MUSK, TESLA INC.
OLA KAELLENIUS, CEO DAIMLER
HERBERT DIESS, CEO VW
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Smart man. Nickel demand is not good enough at the moment to justify these prices. Hammer home the message and get all these companies to raise capital and then sink it in to marginal projects! Why else would he be on about nickel? He needs it as cheap as possible. “The real limitation on Tesla growth is cell production at affordable price,” Musk said,
Simple internet searches show nickel will finish the year in surplus, and will be in surplus next year, and surplus again the year after that. Long-term fundamentals usually win out over hype. BHP are talking about mid 2020s for nickel jump. Europe is heading to lockdown again, the US will probably be in full civil war in a month.
...At some stage over the next 50 years I might be correct about nickel falling... Have not done well lately on predictions. Tesla should just raise capital and buy BHP's nickel division and build a battery plant here in WA.
Value Collector
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Tesla are getting into lithium mining.
They also seem to think they have found a way to lower production costs of nickel refining.
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Nickel has cracked $8 U.S/lb things could very well be on the move IMO.
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More reports of the pending nickel shortage due to the E.V revolution.
www.mining.com
Meanwhile Indonesia is getting on the front foot with nickel processing.
www.mining.com
From the article:
Once the world’s biggest exporter of nickel, Indonesia banned ore exports last year amid efforts to develop a full nickel supply chain, starting from extraction, processing into metals and chemicals used in batteries, all the way to building EVs.
At least four high-pressure acid leach (HPAL) plants, which process nickel laterite into chemicals used in batteries, are being constructed in Indonesia led by Chinese investors. Most planned to dispose waste in the sea.
HPAL projects in Morowali, in Sulawesi, have decided to drop DST, said a source familiar with the matter. Meanwhile, an HPAL project in Obi Island is still waiting for the government’s decision.
The country also signed a $9.8 billion EV battery deal with South Korea’s LG Energy Solution in December.
Indonesia has also been wooing Tesla, which has been looking to find reliable sources of nickel globally after warning the current cost of batteries remains a hurdle to growth. Tesla has sent an investment proposal and the government will meet with the company next week, Septian Hario Seto, the deputy head for investment and mining coordination said on Friday.
Nickel demand for EVs expected to shoot up over next 20 years
A report commissioned by the European Union forecasts nickel demand to grow globally by 2.6Mt Ni to 2040, up from only 92kt Ni in 2020.
www.mining.com
Meanwhile Indonesia is getting on the front foot with nickel processing.
Nickel price: Indonesia halts deep-sea mining disposal
The world’s biggest nickel producer has not officially banned deep sea tailings but by not issuing new permits could delay planned projects.
www.mining.com
Once the world’s biggest exporter of nickel, Indonesia banned ore exports last year amid efforts to develop a full nickel supply chain, starting from extraction, processing into metals and chemicals used in batteries, all the way to building EVs.
At least four high-pressure acid leach (HPAL) plants, which process nickel laterite into chemicals used in batteries, are being constructed in Indonesia led by Chinese investors. Most planned to dispose waste in the sea.
HPAL projects in Morowali, in Sulawesi, have decided to drop DST, said a source familiar with the matter. Meanwhile, an HPAL project in Obi Island is still waiting for the government’s decision.
China-led investment
Despite obstacles, Indonesia is expecting investment in nickel processing to double from 2020 to $35 billion by 2033, led by Chinese stainless steel producers and battery makers.The country also signed a $9.8 billion EV battery deal with South Korea’s LG Energy Solution in December.
Indonesia has also been wooing Tesla, which has been looking to find reliable sources of nickel globally after warning the current cost of batteries remains a hurdle to growth. Tesla has sent an investment proposal and the government will meet with the company next week, Septian Hario Seto, the deputy head for investment and mining coordination said on Friday.
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The big picture - 25 year nickel price chart:
And the finer detail since 2 September 2020 spike:
(ps, even gold has a silver lining today)
And the finer detail since 2 September 2020 spike:
(ps, even gold has a silver lining today)
Dona Ferentes
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this is what you're up against
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Yes, the only saving grace is magnetite nickel is difficult to make into battery grade, but quality that hasn't worried them in the past. At least it may differentiate the BEV market i.e battery quality (cycle life, storage capacity etc)
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This article gives further insights. It was interesting to note that only 2 major nickel finds have been made in the past 10 years.
I know that Western Areas is a nickel sulphide producer so there us a chance its ore might attract a premium as BEV numbers ramp up.
WSA's announcement today was somewhat flat, however it has a strong growth pipeline and looks well placed to supply into increased demand in coming years.
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Nickel producers and explorers were sold off hard today as the price of nickel fell overnight. Seems nickel supply at the LME warehouse has increased rapidly (ref Kitco). Good, as I've been waiting for a significant dip to start buying nickel producers and some soon to be producers.
WSA: Has too many price spikes for me. A tough one to trade.
PAN: Started nibbling at 0.13 today.
NIC: Bought some at 1.30.
MCR: I like it under 1.00
BSX: I'm interested down at 0.40
POS: Too many shares issued, spec trade only with perfect setup.
WSA: Has too many price spikes for me. A tough one to trade.
PAN: Started nibbling at 0.13 today.
NIC: Bought some at 1.30.
MCR: I like it under 1.00
BSX: I'm interested down at 0.40
POS: Too many shares issued, spec trade only with perfect setup.
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About nickel: New Caledonia is a key producer and Inco then Vale spent billions of USD..no typing mistake..billions .creating the Goro processing center in the south of the usland.i was part of this project so my awareness .
Well this is all down the drain.the local politics in NC are such that the plant is down and has been for sale with no western buyer in his sane mind jumping in.
I can see the whole lot bought by at a huge bargain by the Chineses once the island is "made independent from France"..and that nickel source becoming part of China domestic production.with a serious impact obviously on NC but also on nickel mining all over the world.
You can not have long term nickel analysis wo taking the NC factor into account
https://en.wikipedia.org/wiki/Nickel_mining_in_New_Caledonia
https://en.wikipedia.org/wiki/Goro_mine
In a nutshell, an enormous production capacity which can be released in a few months if China takes over,with a let's call it, efficient policing in place.
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A want to note the significant drop in the nickel price over the past few weeks.
The drop is due to news that Tsingshan (large Indonesian nickel producer, Chinese owned) is about to supply 100,000t of nickel "matte" converted from lower quality nickel pig iron (NPI) to Chinese battery manufacturers.
This lower quality nickel is more expensive to convert to higher quality nickel and has been avoided until now. Smelting of Ni-laterite ores is associated with some of the highest CO2 emissions in the industry.
The drop is due to news that Tsingshan (large Indonesian nickel producer, Chinese owned) is about to supply 100,000t of nickel "matte" converted from lower quality nickel pig iron (NPI) to Chinese battery manufacturers.
This lower quality nickel is more expensive to convert to higher quality nickel and has been avoided until now. Smelting of Ni-laterite ores is associated with some of the highest CO2 emissions in the industry.
