The Nickel Price shot up this week with investors focusing on Russia’s sanctions effects. The price had a remarkable hike that London had to shut its trading on Monday. This metal that was trading at $15,600 in March 2021 is currently at $60,000. The following leading nickel stocks are a good buy with the current rise.
Glencore (LON: GLEN), a top mining firm in Baar, Switzerland, deals with commodities like coal, copper, and nickel. Significantly, the company trades millions of oil barrels daily.
In 2021 Glencore produced about 102kt of nickel, yet nickel serves a little section of the firm’s ventures as it mostly makes money from coal. It operates in Canada, Norway, Australia, and New Caledonia.
However, the rise in nickel price will keep being significant to the firm. Thus, the firm may increase dividends in 2022 due to the increase in other commodity prices.
Norilsk Nickel(NILSY) is a Russian company, the biggest in its industry globally. Thus, its price crashed in New York, where its ADRS are traded. It’s trading at $3, the lowest record and quite lower than its 2021 highest of almost $35.
Currently, it’s hard to invest in Norilk Nickel since most Russian stocks have been rendered uninvestable. Regardless, the firm may stabilize and rebound due to its increased demand.
Vale (NYSE: VALE) is a globally top Brazilian mining company with an over $99 billion value. Its top products are iron ore, nickel, manganese, ferroallo, coal, and copper.
Its largely present in countries like Brazil, China, Canada, and Mozambique. Its production is in Canada, with 65,000 metric tons of metal subsidiary mine value.
Hence, it’s possible its stock price will rise with the increase in nickel price. Certainly, the shares have increased by more than 76% since November 2021 lowest.