- Nickel has had its price on parabolic moves within the past couple of days.
- It surged due to sanctions against Russia.
- Here are some of the leading nickel stocks to consider.
Nickel price surged this week as market participants focused on the effect of sanctions on Russia. The spectacular price rise forced London to halt trading on Monday. A metal traded around $15,600 in 2021 March but now trades at $60,000. Here are some leading nickel stocks you can purchase amid price jumps.
Glencore is among the top mining firms, with its headquarters in Baar, Switzerland. The company deals with commodities such as copper, coal, and nickel. Moreover, the company leads as a commodity trader, selling countless oil barrels each day.
Glencore (LON: GLEN) has nickel deals in Norway, Canada, New Caledonia, and Australia. The firm produced nearly 102kt o nickel in 2021. Moreover, nickel remains a small portion of the firm’s undertaking, which earns most of its cash from coal.
Nevertheless, nickel will remain vital for Glencore as it sees price hikes. Therefore, the company might increase its dividends in 2022 because other commodity prices registered impressive performances.
Norilsk Nickel is a Russian firm and a leading player within the nickel market globally. The stock sees price crashes in New York due to its origin. While publishing this content, the stock trades at $3, its all-time lows. Moreover, this price remains significantly lower than 2021’s peak of $35.
However, the current conditions might make it challenging to invest in Norilsk Nickel (NILSY). That is because experts discourage investing in Russian stocks amid war. However, the company will likely survive and rebound in the long term amid increasing metal demand.
Vale (NYSE: VALE) is among the leading Brazilian firms, valued at above $99 billion. It is among the largest mining companies globally. Some of the products by Vale are nickel, iron ore, copper, coal, manganese, and ferroalloy.
Vale has massive operations in Mozambique, China, Brazil, and Canada. Therefore, Vale stock might see price increases as nickel prices surge. Moreover, the company’s share has gained over 76% from the 2021 November lows.