The Conversation (0)
Seeking Alpha reports nickel is the year-to-date worst performer on the London metals market suggesting it may be a sign of what’s to come for other base metals.
Seeking Alpha reports nickel is the year-to-date worst performer on the London metals market suggesting it may be a sign of what’s to come for other base metals.
The market news is quoted as saying,
Like a true Russian hero, nickel has become a victim of its own success. In dollar terms, the nickel market’s overall value is closer to silver’s than gold’s, but it’s a hard metal to substitute. Nickel demand is primarily driven by stainless steel manufacturers, as it’s a key ingredient in producing this corrosion-resistant alloy. More than 60 percent of all nickel mined annually goes straight to the production of stainless steel, used in everything from cars to kitchen appliances to skyscrapers.