We haven’t been a fan of NIC over the years, the Indonesian producer of primarily pig iron (used to make steel), but its share price is turning the corner nicely. A great example that these lesser followed metal stocks are attracting some buying. While the pig iron price didn’t quite attract the lofty prices that battery-grade nickel saw, it is now benefitting from the tighter controls on Russian supply while China looks set to see higher demand.
- We like NIC as a trade, but it’s currently not on our radar.
MM is bullish NIC in the short term
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