Market craziness everywhere. (Nickel)

[Mr Gus]

Just heard how crazy the emerald market has gone.
Nickel today hit $100,000 per tonne.

Listen out later today if you get the opportunity.

https://www.dailymetalprice.com/metalpr ... i&u=oz&d=5

[marshman]

But Nickle was always expensive, it is only "headline" news as it has reached $100,000 per tonne, which is just an arbitrary "round" number. It is "only" up around 50% in the last year, in comparison with a lot of commodities it is not that spectacular. I would be more concerned about Lithium prices, up ten fold since Jan 2021. Neodymium has virtually tripled in the same period.

Mining companies will start throwing their vast free cashflow at increasing production and bringing more mines on stream and the next headlines will be about how the price of a load of stuff has crashed due to oversupply !

[Mr Gus]

Indicator of things to come though, Lithium has fair rocketed up also, cannot help but think it is all part of the oil price heebie-jeebies in association with EV myself.

But, I don't no nuffink.

[spread-tee]

What I find daft is that most people think of markets as something we have no control over like the weather or orbital mechanics, and meanwhile the market "dictates that oil will shoot up to 300 bucks a barrel by the end of the year and there's nothing we can do about it. The cost of oil production hasn't gone up much for almost all producers so they must be loving "Mad Vlad" and his illegal war..........kerrchiing

It's bollox, markets are entirely man made systems for buying and selling stuff which will probably ensure hundreds of millions more people world wide will soon suffer from poverty, oh and a few Olly Garks of all nationalities trouser a few more billions.

Desp

[Mr Gus]

+1
Since when would either "putain" or a commodities trader ever get up in the morning & think "it's too nice a day to needlessly shaft people" !?