The Battery Show

Matt & Mark discuss the changing dynamics in the nickel market, particularly influenced by the actions of Russia and China. They mention the recent inflation data and the impact of US interest rates on nickel prices. There is a mention of Russian nickel shipments arriving in China and its effect on market conditions. Matt & Mark also highlight the compression of LME prices for NPI and sulfate, along with the normalization of discounts. They emphasize the national security concerns

Nickel continues trading either side $21,000 as LME inventories continue to creep lower towards 37,000 tonnes despite talk of large surpluses.  China saw inflow of Russian cathode – 7,000-8,000 tonnes – will be see how this flows through Chinese market or ends up overhanging Chinese market.Debt deal helped put bounce back in copper and floor under nickel prices.  Given global slowdown, still think test of $20,000 possible before we trend higher by year-end. Battery restocking – lithium