Nickel gains on Tesla CEO Elon Musk's remarks
Nickel prices rose on Monday, lifted by Tesla CEO Elon Musk's remarks, while the US dollar dropped against its peers.
Tesla needs more resources and metals to continue its strong performance on production and manufacturing," said Elon Musk.
Mask said after the release of Tesla's business results that all mining companies have to mine more metals, especially nickel.
He emphasized that nickel is preferred because it is efficient and also environmentally friendly, as it is used in the manufacture of electric cars and batteries.
The dollar index fell against a basket of currencies by 0.7% to 93.7 points as of 13:38 GMT, after it hit an intraday high of 94.6 and a low of 93.3.
Nickel spot futures rose by 1.3% to $1,3712.6 per tonne as of 13:49 GMT.
Commodities News
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities
Oil prices extend losses, with Brent plumbing five-week lows
Oil prices fell in American trade on Tuesday, extending losses for the third straight session, with ...
Commodities
Gold logs in first weekly loss in five weeks
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 02-05-2024
Brent Oil Trading Report Brent oil price is testing 84.77$ level and attempts to consolidate ...
Commodities
Crude oil price forecast update 02-05-2024
Crude Oil Trading Report Crude oil price shows positive trades and attempts to breach 79.60$, ...
Commodities
Silver price forecast update 02-05-2024
Silver Trading Report Silver price continues to decline to move below the neckline of the double ...