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Elon Musk sends nickel soaring after urging more production, offering ‘giant’ contract – Small Caps
Tesla chief executive Elon Musk has sent out a call for more nickel to be mined and produced, adding that his automaker company could offer a “giant” long term contract for the producer.
Tesla chief executive Elon Musk has sent out a call for more nickel to be mined and produced, adding that his automaker company could offer a giant long term contract for the producer.
That was enough to send nickel prices on the London Metal Exchange soaring on Thursday, the price rising 4.5% to close at US$13,689 per tonne, while turnover reached its highest in four months.
Nickel is a key ingredient for batteries used in Tesla electric vehicles (EV). The company is reportedly moving away fr…
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