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Nickel trades at a decade high levels; check out key triggers
Nickel prices are trading at a decade high and has gained 9 percent already for the current year. The strength comes in on the back of strong demand expectations and also on the back of announcements of new nickel mining projects.
When one talks about stainless steel or infrastructure or electric vehicles (EVs) for that matter, one thing that continues to work on the higher side is nickel, which is the major ingredient for many of these things.
Nickel prices are trading at a decade high and has gained 9 percent already for the current year. The strength comes in on the back of strong demand expectations and also on the back of announcements of new nickel mining projects.
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The China rate cut and expectations of most stimulus coming in from China has been supportive for metals across sector and nickel seems to be taking in cues from that too.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
First Published: Jan 18, 2022 2:08 PM IST
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