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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.
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