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Nickel Monthly News For The Month Of February 2020


  • Nickel spot prices were down slightly in February, and the LME inventory rose.
  • Nickel market news - Nornickel - Coronavirus to hit nickel and copper markets, at least in Q1, 2020.
  • Nickel company news - Positive PFS from Cassini Resources/Oz Minerals. Outstanding drill results from Garibaldi Resources and Neometals. Canada Nickel begins trading on the TSXV.
  • I do much more than just articles at Trend Investing: Members get access to model portfolios, regular updates, a chat room, and more. Get started today »

Welcome to the nickel miners news for February. The past month saw nickel prices slightly lower and a busy month of news including the nickel majors reporting 2019 nickel production results and 2020 guidance.

Nickel price news

As of February 28, the nickel spot price was USD 5.57, down slightly from USD 5.78 last month. Nickel inventory at the London Metals Exchange [LME] rose last month from 194,526 tonnes to 229,860 tonnes.

Nickel spot prices - 5-year chart - USD 5.57/lb

5 Year Nickel Prices - Nickel Price Chart

Source: InfoMine.com

Nickel demand v supply

The chart below shows nickel is forecast to be in deficit after ~2020-2022 (note it is a bit outdated now).

Source: Wood Mackenzie

Note: Some others such as BMI have been forecasting a nickel surplus by 2020 due to increased Indonesian production and reduced Asian demand.

As a reminder the November 2017 McKinsey report stated:

"If annual electric vehicle [EV] production reaches 31 million vehicles by 2025 as expected then demand for high-purity class 1 nickel is likely to increase significantly from 33 Kt in 2017 to 570 Kt in 2025."

Note: That is a 17 fold increase in just 8 years, albeit only on Class 1 nickel.

Nickel demand from EVs set to surge 5x from 2020 to 2025

Source: Fastmarkets

Investors can also read my past article: "Top 5 Nickel Miners To Consider Before The Nickel Boom."

Nickel Market News

On February 25 Investing News reported:

Indonesia: Coronavirus will delay US$11 billion in projects. “It will have impacts on the projects and in turn affect exports that should have started this year … some of them will be delayed by months.”

On February 27 Mining Technology reported:

Coronavirus to hit Nornickel’s nickel and copper markets. Russian mining company Norilsk Nickel (Nornickel) has announced that the recent outbreak of coronavirus in China is expected

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Analyst’s Disclosure: I am/we are long NORILSK NICKEL [LSE:MNOD], GLENCORE [LSX:GLEN], RNC MINERALS [TSX:RNX], AXIOM MINING (ASX:AVQ), ARDEA RESOURCES [ASX:ARL], AUSTRALIAN MINES [ASX:AUZ], POSEIDON NICKEL [ASX:POS], Amur Minerals [LN:AMC]. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The information in this article is general in nature and should not be relied upon as personal financial advice.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (2)

wassa.h profile picture
@Matt Bohlsen

Hmmmph...... A bit undigetsable is this report for me. - Just does not 'sit up straight'.

Ardea...ARL ASX...has had a 'Bonza' run from the start of this year...It is clearly being attacked by those who just cant bear to see it "Take Off".....and you are a holder??
You would be aware of the 'Feel Good' Gedolphin 'Spin out' has been for 'holders...and Just last week "High Grade Gold at Goongarrie. measured and reported..
...and then there is the support that investors have shown with regards to its 'share price ' over the last 3-4 month or so/////real money going in too...not naieve punters. - of course it was shot down 3 times in this period...but all seasoned investors dont get too upset at that behaviour...that' made to order selling tweek......
It is a good stock...very good...dont you think??
Thanks for the update. You mentioned the companies that you are long . IT would be Interesting for us readers if you indicatie if you increase or decreased your position during the month
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