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 - Wall Street Close to Records Ahead of Long Weekend
Will Belarus join the war?
Daily summary: Peace agreement draft lifts the market
Oil keeps rising: is there reason to worry?