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Nickel is definitely having a run, the Aussie producers will be well in the black.
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Overnight $12/lb was breached:
SFE and LME warehouses have a little over 50K tonnes of nickel available and outflows, albeit low, continue to outpace inflows on a regular weekly basis. To say the market is tight is an understatement as SFE's 3k tonnes could disappear in a flash.
As you can see from the chart below nickel prices skyrocket on demand squeezes so the race to another all time record high is underway.
SFE and LME warehouses have a little over 50K tonnes of nickel available and outflows, albeit low, continue to outpace inflows on a regular weekly basis. To say the market is tight is an understatement as SFE's 3k tonnes could disappear in a flash.
As you can see from the chart below nickel prices skyrocket on demand squeezes so the race to another all time record high is underway.
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Well, days later and $13/lb has been breached:
Not much more needs to be said. This is craziness!
Not much more needs to be said. This is craziness!
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Agreed, but when will the insanity stop? I've got copper, some lithium but no nickel currently. I don't want to chase these higher prices but they keep going higher. We've seen the huge rallies in MCR and NIC. Now PAN has jumped up.
I've been watching (not trading!) JJN.
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Russia's Norilsk has 20% of the nickel market and I don't think anyone wants to touch further dealings with them until the Ukranian fiasco is sorted out.
The question then is: Will Norilsk keep producing and stockpiling until then? Or will it go into care and maintenance?
If the former than we get one almighty crash in the nickel price.
If the latter then PON will dip sharply, but not crash.
ps. I have nickel exposure via S32. They will keep going gangbusters because because they also have other non ferrous minerals plus coking coal and a fair bit of silver.
Sean K
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Just about all commods have run. I've had FOMO for months and missed some very good opportunities, but been slowly adding to positions on any weakness. Thought we'd see a deeper general market correction, which hasn't appeared as yet. All these commodity gains are going to feed into even more inflation over the coming months. I reckon we could see double figure inflation later this year.
I don't know where the price of nickel will go, but i've been bullish on MCR for a couple of years now.
not withstanding their market cap (1.085B) ....I still think there is more room for a sp increase. They have agreements with BHP and operations have started. Elon Musk will take as much green nickel as he can get. Dividends should see a comeback and the company will stay in profit for quite a while if the price of nickel holds. If the world keeps away from Russian nickel for the foreseeable future, I can't see why MCR can't hit the highs of the earlier part of the century, $4.00 at least and possibly $5.00.
The next problem I have is buying the dips and watching the cycle, as all commodities eventually fall and i have no reason to believe nickel is any different
not withstanding their market cap (1.085B) ....I still think there is more room for a sp increase. They have agreements with BHP and operations have started. Elon Musk will take as much green nickel as he can get. Dividends should see a comeback and the company will stay in profit for quite a while if the price of nickel holds. If the world keeps away from Russian nickel for the foreseeable future, I can't see why MCR can't hit the highs of the earlier part of the century, $4.00 at least and possibly $5.00.
The next problem I have is buying the dips and watching the cycle, as all commodities eventually fall and i have no reason to believe nickel is any different
Sean K
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Half way through this commodities bull I reckon.
Sean K
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Probably need to rationalise some of these Nickel threads.
Might be a good day for Ni miners on Monday.
Might be a good day for Ni miners on Monday.
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Imho
It takes 5 to 10y to develop new mines.lets say 5y if not in western countries
Market will look ahead but,as we are in a wide commodities boom, substitution is not really going to happen.
So 3 to 4 minimum good years ahead.
If overall Market crashes, it could reduce the jump but your shares should ar least beat inflation
10 to 15% growth a year
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Apparently Nickel does not recognise the numbers 14, and 15, so one trading day later here we are at 16+:
I think one of the dumbest decisions made by any company last year WRT its shareholders was made by WSA.
Today I reckon it would be trading at over $5 instead of being trapped by a board decision to sell to IGO for a bargain basement price.
Little wonder so many shareholders are pissd off by ridiculously high director's fees and share allocations, when they put us last.
I think one of the dumbest decisions made by any company last year WRT its shareholders was made by WSA.Today I reckon it would be trading at over $5 instead of being trapped by a board decision to sell to IGO for a bargain basement price.
Little wonder so many shareholders are pissd off by ridiculously high director's fees and share allocations, when they put us last.
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Yep, I made that point Rederob in the WSA thread when the deal was announced.
I could not understand why they decided to take $3.35 a share. You’re right, WSA should be sitting well above $4 atm.
I could not understand why they decided to take $3.35 a share. You’re right, WSA should be sitting well above $4 atm.
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I just checked the shares, public holiday over here in the West, PAN 30c 30million shares traded, you little ripper. ?
Just wish I had bought more, nothing changes, woulda, shoulda, coulda.
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Hmmm...
Is Ni up.
Is Ni up.
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LME nickel soars by a record 30% on Russia supply concerns
London nickel prices soared as much as 30.7% on Monday, their biggest daily percentage gain on record, as supply disruption fears gripped markets amid an escalating Russia-Ukraine conflict and mounting sanctions against Moscow.
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Make that 40%
Nuts.
Sustainable?
Nuts.
Sustainable?
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+50K, unbelievable.
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Biggest 24 hour price increase on record:
Beyond craziness!
$20,000 added overnight to reach over $50,000/lb before falling back slightly:
Last edited:
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Here's LME's situation today. First backwardation:
And now inventory:
And at SHFE's warehouses we have a touch over 4K tonnes:
And now inventory:
And at SHFE's warehouses we have a touch over 4K tonnes:
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Fellow nickel bulls, strap yourselves in, this could by an exciting ride.?
