Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Nickel is big news this week, more so after the BIG write down by BHP on its nickel assets. Generally it seems to be portrayed as massive increase in production from Indonesia at lower costs & a slower uptake of EVs making demand not so stratospheric as some forecasts. Is there some other big theme at play? Is BHP’s write down more to accounting standards than a long term shake down of the nickel market? What is your medium/ long term views?
Hi Glenn,
It’s the same theme that always plays through the commodities space, one of supply & demand, just in this case, on steroids!
We believe buying opportunities will present themselves in related stocks but at this stage, Indonesia clearly has a desire to wipe out competition, so we prefer simpler alternatives to the ESG revolution such as Pilbara Minerals (PLS), i.e. lithium.
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