RE:Strong nickel recovery It's interesting that the nickel price is so low vis a vis the demand for it! With the push to electric vehicles and it being indispensable in the batteries they use it boggles the mind that it isn't multi times higher.
With regards to the LME (London Metals Exchange), I suspect it is rigged in the same way as the precious metals, ie, paper trades. This cannot continue because if you go to the Kitco site, you can see that there is only something like 37,000 nickel tonnes in their inventory. Five years ago there was close to 280,000! Sometimes I think that they may not be selling at all!
Check out the Shanghai Metals Exchange. Their prices are a good $1500 more per tonne! What an arbitrage opportunity! Buy all the LME nickel and sell it to the Shanghai! Am I missing something here?
If the price doesn't go much higher, no one is going to build nickel mines. It would take billions to open a major nickel mine and companies aren't going to slash their own throats to make the car companies happy! For those who are wondering about the possible Dumont sale, it may happen, when nickel perhaps doubles! Karora may be in the driver's seat, pun intended! Good luck all ;-))!