Nickel Close to a 5-Year High

[Silver4face]

I saw the price increases too this morning, but couldn't post or comment because I was busy hoarding stuff out of circulation. At 12.77, nickel has increased almost 2 dollars in the last three weeks. If you look back on this thread, I reported 10.94 on February 11th. Obviously wondering what tomorrow will bring.

[Cu Penny Hoarder]

I saw the price increases too this morning, but couldn't post or comment because I was busy hoarding stuff out of circulation. At 12.77, nickel has increased almost 2 dollars in the last three weeks. If you look back on this thread, I reported 10.94 on February 11th. Obviously wondering what tomorrow will bring.

Just hit $13.00 as I type this at 10:30PM EST.

[Silver4face]

I saw the price increases too this morning, but couldn't post or comment because I was busy hoarding stuff out of circulation. At 12.77, nickel has increased almost 2 dollars in the last three weeks. If you look back on this thread, I reported 10.94 on February 11th. Obviously wondering what tomorrow will bring.

Just hit $13.00 as I type this at 10:30PM EST.

You must be going by the KITCO metal prices. (I just looked). It says 4.80 for copper, which matches last year's high.

[Cu Penny Hoarder]

I saw the price increases too this morning, but couldn't post or comment because I was busy hoarding stuff out of circulation. At 12.77, nickel has increased almost 2 dollars in the last three weeks. If you look back on this thread, I reported 10.94 on February 11th. Obviously wondering what tomorrow will bring.

Just hit $13.00 as I type this at 10:30PM EST.

You must be going by the KITCO metal prices. (I just looked). It says 4.80 for copper, which matches last year's high.

The Ni price is updated every minute. Now $13.27 as I type this...

http://www.kitcometals.com/charts/nickel.html

[Cu Penny Hoarder]

Now $13.56.

A US nickel is now worth 7.7 cents. 53% more than face value.

[Silver4face]

Kitco now says 13.69 for nickel. Could be 14 by dark

[TXSTARFIRE]

Now 13.53 at 14:45 CST.

[Cu Penny Hoarder]

$16.39 !

[Cu Penny Hoarder]

$16.86 !

Price spike probably will not hold very long, but it's certainly fun to watch.

[Cu Penny Hoarder]

$17.30

Could the metal value of a nickel hit 0.10 cents today?

Currently worth 0.0875 cents.

[Cu Penny Hoarder]

$20.12 !!!

WTF?!?!



No way this price spike is going to hold. This is rampant speculation.

[Cu Penny Hoarder]

$20.65

[Cu Penny Hoarder]

$21.05 !!!



No comments. Isn't anyone watching these prices in real time?

[Corsair]

Is anyone interested in purchasing .999 Canadian nickel? Ten, twenty, sixty-five pound lots? PM me.

[willy13]

Uh what happened? Something drastic must of happened to cause such a sudden increase...

[JerrySpringer]

Uh what happened? Something drastic must of happened to cause such a sudden increase...

Russia is a source of nickel I believe

[Cu Penny Hoarder]

Uh what happened? Something drastic must of happened to cause such a sudden increase...

Specs?... Hedge funds?... algos?... Russia mines more nickel than previously thought?

Now $22.11!

I'd be amazed if this price spike holds for any length of time longer than this week.

If Cu is at $4.68, and Ni price of $22.27... a US nickel is worth 0.10 cents.

[slvrbck]

[shinnosuke]

Natural Gas prices in Europe also way up.

Screen Shot 2022-03-07 at 12.09.41.png (246.07 KiB) Viewed 8388 times

[Cu Penny Hoarder]

Sellers tend to come in late in the trading session and the price gets smashed back down. Let's see what happens today.

[willy13]

Yea we get nickel from Russia, but trader knew that 2 weeks ago. Maybe they just realized Putin won't be giving up that easy and it's war nickel time. Sad that the current administration did not see this coming.

[Cu Penny Hoarder]

Nickel Spikes 82% As Russia Supply Fears Spark Historic Short Squeeze

Nickel prices soared as much as 82% to $52,700 a metric ton, the highest in the 35-year history of the contract trading on the London Metal Exchange, as fears over Russian supplies triggered a historic short squeeze according to Bloomberg.

The metal added more than $22,700 to trade at a record-high $52,700 a metric ton. That builds on nickel's 19% surge last week as banks cut exposure to Russian commodity suppliers because of Western sanctions and shippers, such as Maersk, stay clear of Russian and Ukrainian ports.

"Commodity markets are increasingly pricing in a scenario under which a significant portion of Russian supply will be excluded from the market," Morgan Stanley wrote in a note.

"Prices are likely to remain highly volatile, until the real supply impact becomes clearer and prices can start to settle at a new equilibrium," analysts at the bank said.

Citigroup analysts said, "the nickel market is the tightest it has been since the commodity supercycle during the 2000s."

"Already tight markets could see even larger shortages if Russia's mined commodity exports were to be significantly affected," Morgan Stanley said. "Against a backdrop of generally low inventories, demand destruction would become necessary under such a scenario."

Bloomberg data shows 70% of the global supply of nickel is used to produce stainless steel. About 7% of the metal's supply is used in batteries for electric vehicles.

[Cu Penny Hoarder]

You can blame much of this price spike on "virtue signalling" and not wanting to get blackballed or cancelled because your company is dealing with/buying from Russia.

The USA (as we once knew it) is pretty much over. Hope you guys are prepped up as much as possible. Some really bad times are heading our way.

[Silver4face]

$20.12 !!!

WTF?!?!



No way this price spike is going to hold. This is rampant speculation.

I agree

[Silver4face]

$21.05 !!!



No comments. Isn't anyone watching these prices in real time?

I checked the price a few times on my phone, but I didn't have time to post or comment, partly because I was buying and opening more rolls of them. I usually don't log in until night time.