Australia already the world’s number one exporter in iron ore, natural gas and coal is set to see its metal exports essential to the global energy transition from fossil fuels double in just over a year to $33 billion. These metals include copper, nickel and lithium. The venerable Resources and Energy Quarterly from the Australian Office of the Chief Economist’s outlook for global commodity prices, demand and supply sees a dramatic surge in Australian exports critical to energy transition. Australia’s resource … Continue reading “Australian Metal Exports Central to Global Energy Transition Set to Double to $33 Billion”
Auto giant GM on Tuesday announced a new strategic collaborative agreement to secure a source of nickel and cobalt with Australian company Queensland Pacific Metals. The deal secures a source of nickel and cobalt for the production of new GM Ultium batteries. GM’s goal is reaching 1 million units of EV production capacity in North America by mid-decade. $GM says the raw materials will be used in building a broad range of all-electric vehicles, including the Chevy Silverado EV, GMC … Continue reading “GM Secures Nickel and Cobalt for New EVs with Queensland Pacific Metals Investment”
LME suspended nickel trading for at least the remainder of the day Tuesday after Nickel prices roughly doubled to all-time highs Tuesday, up 500% from Friday. Nickel soared over $100,000 a ton to an all-time high on the London Metal Exchange when prices surged around $40,000 in just one hour. The move came from a short squeeze with a major Chinese bank where a unit of China Construction Bank Corp. extra time to pay hundreds of millions of dollars in … Continue reading “Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended”
Nickel along with other commodities has bounced over USD 11,800 per tonne, 10-week highs as stockpiles fall to fresh lows paring some of the losses suffered over the second half of 2018. Macquarie Bank forecast nickel to finish 2019 as the number one commodity.
Mining company Australian Mines will export 40kg of battery-grade nickel sulphate and 4kg of battery-grade cobalt sulphate to Korean partner SK Innovation. This is an Australian record for the export shipment of each ore putting Australia in pole position for electric vehicles..
The premium for Nickel full plate cathodes hit an 11 year high in Europe Metal Bulletin reported. The premium for the preferred stainless steel type nickel has been rising since June. The price flowed through to Shanghai nickel prices.
Electric Vehicle excitment and changing China regulatons have seen nickel soar in 2017 with prices up about 30 percent since mid-June. At LME week the industrial metal has all the buzz as battery makers are using more nickel in electric vehicle’s power sources.