BHP rallied strongly yesterday on the news of a nickel supply deal with Tesla, arguably good news for both companies as the demand for the transition metal in batteries is forecast to increase by ~500% over the next 10-years. This is undoubtedly the direction the major miners are looking to head as the world trends towards a decarbonized world. Details of the tie up were skinny but with BHP claiming to be one of the worlds cheapest / cleanest producers of nickel, it’s a logical arrangement.
MM likes BHP but feels it may struggle into fresh all-time highs, at least short-term
Add To Hit List
