Nickel rises more than 2% on strong demand outlook
Economies.com
2021-06-23 13:50PM UTC
Nickel prices rose on Wednesday, lifted by strong demand outlook, while the US dollar fell against its major peers.
Fitch's credit rating said earlier this month that nickel is attracting automakers around the world thanks to its potential in the battery industry.
The agency added that nickel will be one of the main drivers of the EV industry due to its properties compared to other metals such as lithium and cobalt.
The dollar index fell against a basket of currencies by 0.2% to 91.5 points as of 13:38 GMT, after it hit a high of 91.9 points and a low of 91.5 points.
As of 13:39 GMT, nickel spot futures rose 3.5% to $17,923.5 per tonne.
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