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VALE - Nickel Is Hot Right Now - The Nickel Boom May Have Just Begun
VALE S.A. American Depositary Shares Each Representing one
This article first appeared in Trend Investing on September 5, 2019; therefore all data is as of that date.
Indonesia has declared that they will ban nickel ore exports as of January 1st, 2020 (previously scheduled for 2022). However, on Monday, September 2, 2019, Indonesia’s Energy and Mineral Resources Ministry confirmed plans to move the ban up and place it ahead of schedule. Indonesia currently accounts for about 27-28% of global nickel ore supply. Nickel prices surged higher on the news.
Nickel 5 year chart - Price surge – up over 50% in the past