Class 1 #nickel prices doubled during the last 2 years.
"In 2020, #Russia was #germany biggest provider of raw nickel, accounting for 39% of the country's supply according to the MIT Observatory of Economic Complexity, a trade tracker.
It also provided around 25% of German imports of #palladium , and between 15% and 20% of the heavy metals #chromium and #cadmium, which have a range of industrial uses. Russia also accounted for 11% of Germany's refined #copper imports in 2020, 10.9% of its #platinum and 8.5% of its #iron ore.
Commodities are much more than just raw materials.
Commodities Influence Foreign Policy
Russian nickel, palladium, chromium exports are headache for Germany, according to DW.
Tesla Needs Nickel
"Nickel is the biggest challenge for high-volume, long-range #batteries!", Elon Musk wrote in July 2020. "#Australia & #Canada are doing pretty well. US #nickel production is objectively very lame. Indonesia is great!".
How is Nickel Mined?
“More on than later. The readers will be surprised.”
The only way to learn about markets behavior is to observe both consumers and producers. Without biases.
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