Industrial metals - not a bad investment
The weak US dollar has a supportive effect. For the first time since January, nickel was able to pass the 14,000 US dollar mark. Since the low point in March, the price has risen by around 30%. The stainless-steel industry is an important customer for nickel. Although stainless steel production has declined this year, nickel is also ordered by the electromobility industry.
More electric vehicles - more nickel is needed. The stainless-steel market is also fundamentally a growth market, so companies with nickel in their projects probably don't have to worry too much about it. Companies like the Canada Nickel Company should therefore profit from the e-vehicle boom.
The Canada Nickel Company also holds cobalt in addition to nickel in its Crawford project in Ontario, Canada. This is one of the world's largest nickel and cobalt projects and is wholly owned by the Canada Nickel Company.
The copper price has also recovered significantly since March and is today even higher than a year ago. Here, an economic optimism seems to be in evidence. A look at the purchasing managers' indices for the manufacturing sector in China, the USA and Europe in July also showed good figures, despite the corona pandemic. Anyone who wants to bet on an economic recovery and on the increased demand for copper due to electromobility should take a look at Hannan Metals.
Hannan Metals is working on the high-grade San Martin copper-silver mine in Peru, which the company owns 100 percent. The property comprises a total of 87 mining concessions, of which 43 have already been granted.
Latest company information and press releases from Canada Nickel Company (https://www.resource-capital.ch/en/companies/canada-nickel-company-inc/) and Hannan Metals (https://www.resource-capital.ch/en/companies/hannan-metals-ltd/).
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