Nickel Close to a 5-Year High

[Cu Penny Hoarder]

Nickel now $12.87. Melt value 7 cents.

Not anymore.

Down 33%

The story of my life.

It was a bad tick/glitch. Price is now back to $12.80

[frugi]

Nickel now $12.87. Melt value 7 cents.

Not anymore.

Down 33%

The story of my life.

It was a bad tick/glitch. Price is now back to $12.80

that is good news

[Silver4face]

I am reopening this thread for two reasons. First, nickel is DOWN 3 and a half dollars per pound since the last post (January). That's a rather big drop in a rather short period of time. I do suspect that Steve's opinion that nickel prices are being artificially suppressed is correct. Perhaps a similar concept to pm smashdowns?

I am also reopening this thread because nickel is only $1.37 higher than when this thread was created. Hasn't inflation destroyed the benefit of this $1.37 increase?

[Recyclersteve]

Thanks for reopening this thread. I’ll also add that nickel was added to the list of 50 Critical Minerals last year. Most of the 50 items are VERY OBSCURE items that would be very difficult to hoard. Still love those .999 Canadian nickels.

Also, for those who have the stomach for the stock market, there is a new pure play nickel stock by the name of Lifezone Metals Ltd. (Ticker: LZM). The stock did great the first couple days of trading (7/5 & 7/6), but is down about 36% since the 7/6 high. So there is definitely risk in this stock. It has quietly been billed as the only pure play nickel stock in the U.S. So if someone well regarded promotes this one, it could make a nice move. I own it and am prepared to buy more depending on how it acts. Yes, I am currently under water on this stock…

[Silver4face]

Here we are 3 and a half months later (I consider this a SEMI reopening of the thread) and nickel is down to $8.06 per pound. I think it was actually $8.03 at one point. This has to be the lowest we have seen in at least two years, maybe longer? I sold over 100 pounds when it was $15 a pound which was great, but I want it to go up again because I am gradually stacking more of it. I also want it to go up for the other members who have serious quantities of it. I'm also wondering what effect (if any) the next election will have on the prices of nickel (and other metals)

[Cu Penny Hoarder]

Here we are 3 and a half months later (I consider this a SEMI reopening of the thread) and nickel is down to $8.06 per pound. I think it was actually $8.03 at one point. This has to be the lowest we have seen in at least two years, maybe longer? I sold over 100 pounds when it was $15 a pound which was great, but I want it to go up again because I am gradually stacking more of it. I also want it to go up for the other members who have serious quantities of it. I'm also wondering what effect (if any) the next election will have on the prices of nickel (and other metals)

What type of nickel did you sell and who did you sell it to?... a smelter?

[Cu Penny Hoarder]

I am reopening this thread for two reasons. First, nickel is DOWN 3 and a half dollars per pound since the last post (January). That's a rather big drop in a rather short period of time. I do suspect that Steve's opinion that nickel prices are being artificially suppressed is correct. Perhaps a similar concept to pm smashdowns?

I am also reopening this thread because nickel is only $1.37 higher than when this thread was created. Hasn't inflation destroyed the benefit of this $1.37 increase?

NOTHING makes sense these days. These new electric vehicle batteries contain a lot of nickel, so the price should be rising, not falling.

IMO... ALL PM and industrial metal prices are artificially suppressed.

[Silver4face]

Here we are 3 and a half months later (I consider this a SEMI reopening of the thread) and nickel is down to $8.06 per pound. I think it was actually $8.03 at one point. This has to be the lowest we have seen in at least two years, maybe longer? I sold over 100 pounds when it was $15 a pound which was great, but I want it to go up again because I am gradually stacking more of it. I also want it to go up for the other members who have serious quantities of it. I'm also wondering what effect (if any) the next election will have on the prices of nickel (and other metals)

What type of nickel did you sell and who did you sell it to?... a smelter?

I sold Canadian nickel (.999), and I sold it to a "connection" from years ago.

[Silver4face]

I am reopening this thread for two reasons. First, nickel is DOWN 3 and a half dollars per pound since the last post (January). That's a rather big drop in a rather short period of time. I do suspect that Steve's opinion that nickel prices are being artificially suppressed is correct. Perhaps a similar concept to pm smashdowns?

I am also reopening this thread because nickel is only $1.37 higher than when this thread was created. Hasn't inflation destroyed the benefit of this $1.37 increase?

NOTHING makes sense these days. These new electric vehicle batteries contain a lot of nickel, so the price should be rising, not falling.

IMO... ALL PM and industrial metal prices are artificially suppressed.

I agree with you on this, but one thing: aren't sales of electric vehicles low? If so, wouldn't that reduce the amount of nickel needed?

[Cu Penny Hoarder]

I agree with you on this, but one thing: aren't sales of electric vehicles low? If so, wouldn't that reduce the amount of nickel needed?

They are low, but I'm talking about since EVs began production. The first hybrids came out 20 years ago.

[Recyclersteve]

Don’t know what (specifically) is meant by low EV sales, but I see LOTS of Teslas and a few Rivians.

[Silver4face]

[quote="Recyclersteve"]Don’t know what (specifically) is meant by low EV sales, but I see LOTS of Teslas and a few Rivians.[/quote

Sales may vary from region to region, but I don't think people have really warmed up to them for a variety of reasons. I see a few, but only a few. Perhaps we can start an EV thread, Meanwhile, wouldn't a low sales volume/forecast result in decreased demand for nickel?

[Recyclersteve]

Don’t know what (specifically) is meant by low EV sales, but I see LOTS of Teslas and a few Rivians.[/quote

Sales may vary from region to region, but I don't think people have really warmed up to them for a variety of reasons. I see a few, but only a few. Perhaps we can start an EV thread, Meanwhile, wouldn't a low sales volume/forecast result in decreased demand for nickel?

Yes, but you need to consider lower supply as well.

With Russia battling the Ukraine, a major supplier (Norilsk Nickel- ticker NILSY- and from Russia) has been cut off from the U.S. You can’t trade the stock anymore, which is sad. I had one of my best EVER trades on this stock. It was so good that a bunch of my friends got involved as well.

Oh well…

[Silver4face]

Bump! Nickel is down to 6.96, the lowest I've seen since 2020