Nickel tycoon has cut big short position by more than half
Xiang Guangda bought contracts in the market to reduce his short bet by about 10,000 lots, or 60,000 tonnes, mainly in the last two weeks.
Xiang Guangda bought contracts in the market to reduce his short bet by about 10,000 lots, or 60,000 tonnes, mainly in the last two weeks.
The approval has been needed since President Vladimir Putin April signed a bill requiring Russian companies to delist their depositary receipts abroad.
Parts of the new-energy sector concentrated in the Yangtze Delta and southeastern China had been affected severely.
Nickel’s contribution is greater than cathode and cell assembly combined, says Tesla’s new ESG report, but cobalt’s impact is minimal.
Nickel futures finally tumbled back below the level where the London Metal Exchange market closed March 4.
Representatives of Tesla were currently in Indonesia and due to visit the nickel production hub of Morawali on Sulawesi island.
The Brazilian miner will provide Tesla with low-carbon class 1 nickel – part of Vale's strategy of increasing its exposure to the EV industry.
The world’s biggest mining company sees nickel as one of three “future-facing commodities” -- along with copper and potash.
NorthMet is the first large-scale project to be permitted within the Duluth Complex in northeastern Minnesota.
Global EV sales more than doubled to 4.2 million vehicles in 2021 from just over 2 million in 2020.