LORD COPPER: Stocks need to drop for nickel to join cobalt in EV ride

Nickel prices trading on the London Metal Exchange were buoyed by optimism over electric vehicles during LME Week, but the industry needs to tackle the ever-present warehouse stockpiles before the lithium-ion battery raw material can mirror cobalt’s successes, Lord Copper argues.

The LME Dinner a couple of weeks ago had a much more positive feel about it than has been the case for a while. It’s not difficult to track most of that burgeoning optimism down to the surge of interest in all things connected with electricity storage and electric vehicles. Well, on the whole, I share the view that an electric revolution is developing across the world as cleaner forms of energy grow in importance. But are we getting ahead of ourselves? During LME Week, I chatted to a bunch of cobalt traders - most of whom I have known for a long time - and the universal message was “buy...

Published

Lord Copper

November 16, 2017

10:08 GMT

London