Canada Nickel Company Inc V.CNC

Alternate Symbol(s): CNIKF

Metals & Mining Industrial Metals & Minerals

Canada Nickel Company Inc. is a Canada-based company, which is engaged in advancing the nickel-sulfide projects to deliver nickel required to feed the electric vehicle and stainless-steel markets. The Company owns flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. The Company also owns 25 additional nickel targets located near the Crawford Project. Its wholly owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron and applied for the trademarks NetZero Nickel NetZero Cobalt and NetZero Iron across several jurisdictions.

TSXV:CNC - Post by User

Canada Nickel Company Inc

<< Previous

Bullboard Posts

Next >>

Post by CravingProfitson Mar 11, 2024 4:44pm

176 Views

Post# 35927202

Morgan Stanley on Nickel...

Nickel has likely troughed”

Most of the surplus modelled for 2024 has been wiped out by production cuts in Australia and New Caledonia; Approximately 110kt has been removed from system and around another 120kt is “at risk”
As much as one-third of Australia’s forecast nickel production in 2024 has been curtailed, but the Australian government’s 50% royalty rebate “

may provide some relief to miners, potentially slowing the rate of shutdowns from here unless nickel prices fall further”

Summarising the supply. Source: Morgan Stanley Research estimates

“Nickel short positioning had got very stretched”, and there is currently a degree of short covering occurring; Net short positioning which peaked in Feb at “over 24,000 lots” has dipped to “just ~10,000 lots”

Nickel short positioning had got very stretched. Source: Bloomberg, Morgan Stanley Research

On the demand-side, “nickel containing batteries continued to lose share to LFPs (lithium-iron phosphate)” but a recent rise in nickel sulphate prices suggests “a restock from cathode producers”
Given above factors, the nickel market in 2024 is likely to be “closer to balanced”, but “the trajectory could still be volatile from here”