Mark Selby #13 - Nickel Up To $7, Inventories Falling, Time To Invest?
Matthew Gordon, Ptolemy Capital
3 Months ago
Smarter investing with our weekly Nickel Market Insights with Mark Selby, Nickel Market Commentator and CEO of Canada Nickel Company (CNC). Stay up to date by listening to our weekly market roundup on Nickel.
What has unfolded in the world of nickel this week? Nickel was up to $7.15/lb today. This is another milestone on this rally and is yet another ween in which nickel has headed north. We are now rapidly approaching $16/t and there is clearly some momentum driving this growth. The main catalyst of this week was created by a private industry PMI in China, which demonstrated positive results. This is just the latest piece of bullish nickel-related news to come from the Chinese relation programme. Momentum traders have been pushed into nickel and all base metals are prospering right now. Nickel ore inventories have dropped at the time of the year when they need to be building up, just before the rainy season in the Philippines. This destruction of reserves will undoubtedly bolster the value proposition of nickel investment.
Crux Investor is a new market insight channel for those interested in understanding the junior mining world and opportunities to invest. Its purpose is to cut through a lot of the jargon, bias and bluster that is prevalent in this sector and hone-in on the most important factors that can indicate whether a company has a strong footing for growth and success.
Get an insight into how institutional investors evaluate the natural resource market. Hear from some of the most influential and successful people in the industry about how they made money investing in public markets. Learn key strategies, tactics and questions to allow you to make better, informed, comparative assessments.
Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.