Nickel rises on falling dollar and strong demand outlook
Economies.com
2021-04-01 13:59PM UTC
Nickel prices rose on Thursday, lifted by strong demand outlook, while the US dollar fell against its major peers.
Nickel is being lifted by the strong demand from the electric vehicle industry.
CEO of Tesla Elon Musk has repeatedly talked about the benefits of using nickel in batteries to power electric cars.
US President Joe Biden announced a $2 trillion infrastructure spending plan, to develop electricity grids and other facilities to boost the US economic recovery from the Covid-19 pandemic.
The dollar index fell against a basket of currencies by 0.2% to 93.06 points as of 13:47 GMT, after it hit a high of 93.3 points and a low of 93 points.
As of 13:57 GMT, nickel spot futures rose 1.3% to $16,097 per tonne.
Commodities News
Commodities
Gold rushes above $2400 as Israel attacks Iran
2024-04-19 07:41AM UTC
Gold prices rose in European trade on Friday, extending gains for a second day and trading above ...
Commodities
Gold returns higher towards $2400
2024-04-18 18:59PM UTC
Gold prices rose on Thursday as the dollar advanced against most major rivals amid mounting ...
Commodities
Gold advances towards unprecedented peaks
2024-04-18 09:21AM UTC
Gold prices rose in European trade on Thursday, resuming gains and moving once again towards record ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Brent Oil Price Analysis Expected Scenario The Brent oil price bounced downwards strongly ...
Commodities
Crude oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price couldn’t manage to hold ...
Commodities
Silver price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Silver Price Analysis Expected Scenario Silver price returns to test the key support at ...