LME Nickel Stocks



This explains the rise. In the absence of an announcement before the end of this week confirming the ban is to be brought forward the price will dribble down IMO.

Concerns about Indonesia’s export ban was rekindled by market talk that the country’s Minister of Energy and Mineral Resources (MEMR) has approved the ban on raw ore exports and that details about the decision will be announced on Monday August 5.

This means that Indonesia, a major source of nickel ore, will likely advance its export ban from the previously scheduled 2022.

Some Chinese nickel ore traders told SMM that they did hear of the market talk, but Indonesian miners such as Antam and Sambas said that they have yet to receive any notices.

TDT :sunglasses:






Nickel strength: Amid the ongoing weakness in the metals complex, nickel has been the outperformer due to uncertainty over Indonesian supplies. LME nickel increased to a fresh one-year high of US$14,880/t yesterday, with aggregate open interest surging to a record high of around 288k lots. In China, SHFE nickel at CNY118,130/t is only marginally away from the five-year high of CNY118,460/t made in June 2018. While Indonesia has plans to ban the export of nickel ore from January 2022; there is growing market speculation that the ban could be brought forward to push miners to invest more in the downstream sector







That BNP Paribas document is very interesting. When organisations like this come out with bold statements like:-

“…we think the economics of renewables are impossible for oil to compete with when looked at over the cycle. We calculate that to get the same amount of mobility from gasoline as from new renewables in tandem with EVs over the next 25 years would cost 6.2x-7x more.”

you have to sit up and take notice.

TDT :sunglasses:


This is the idea of the document