Nickel Still Holding Near 5yr Highs Nickel prices continue to boom on increased demand from both EVs and stainless steel. In June, the US increased steel imports to 2.6M tonnes (up from 2.3M in May). Nickel is trading 34.8% higher than last year, and the momentum looks like it's not stopping anytime soon.
https://spendmatters.com/2021/07/30/commodities-roundup-stainless-steel-demand-powers-nickel-european-sourcing-woes-global-steel-output-down-in-june/
“Announcements by Tangshan Stainless in Indonesia that it would switch production of its refined nickel output to an EV cathode battery chemistry undermined the presumption of a looming shortfall in battery quality metal.” Now with the looming shortfall of battery nickel, mining companies are bound to have the most significant benefit from it.
$FNI is a junior nickel company that owns the Albert Lake Project, a high-grade nickel project home to the historical Rottenstone Mine (average historical grade of 3.23%).
- Located on the Trans Hudson Corridor in Saskatchewan (home to numerous producing, world-class, mining camps)
- 90,000-hectare land package
- Still waiting on soil samples which should be released in August (will let them plan out their next exploration stage)
Overall, mixing both the bullish nickel market and high-grade project, $FNI is looking very attractive at these levels.