Nickel prices explode higher on ban fears

Nickel prices are up more than 4% today which takes the rally close to 50% for the year (!) as investors are afraid that Indonesia will introduce a proposed ban on exports starting from 2022. Nickel is increasingly used in batteries in automotive industry so a ban would obviously constrain global supplies. Nickel price is moving closer to 2018 high of $16580 with the next resistance at $18600.


Daily summary: US stocks edge higher after bumpy ride
MACRO: US employers add 379K jobs as hiring speeds up
Three markets to watch next week (05.03.2021)
Tesla shares at 3-month low
BREAKING: NFP well above expectations
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.