RE:RE:Nickel PriceThis rationale has a strong fecal odour to it; but it might just be a cover story for the commodity price manipulation du jour
Refined nickel is a high value commodity that ships all arounf the world, without any concern for the cost of transportation per tonne. US sanctions on Russian nickel would be ineffective beyond the point of stupidity. China will not hesitate to buy Russian product. Neither would India. Good luck with forcing either of those countries to honestly disclose the true sources of the constituent components used in their products.
As there is very little stainless production left in North America at this point, tariffs would be the more effective route. Keep in mind that when Cliff's bought into the Decar project, they also bought into the Ring-Of-Fire chromite play in northern Ontario. The vision was for fully North American sourced supply streams for stainless steel.
Maybe they were just ahead of their time.
macaw wrote: Looks like part of the reason, if not all, is a result of new sanctions on a russian metals tycoon Oleg Deripaska who controls United Co. Rusal PLC, which owns 28% of Norilsk Nickel Mining & Metallurgical Co.. Add this to an already thight supply and the price went up. If there are any other reasons I would like to know. This is all I could find. I will keep looking.
macaw wrote: Up over 40cents to about $6.90 USD. Is there news out?