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macleod_sd
New Member
Canada
23 Posts |
 Posted - 02/23/2010 : 07:21:47
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I was wondering what everyone’s thoughts are on nickel prices in the short term 1-5 years and say longer term 10-20+ years. Will we ever see $20-$25 a pound again? I understand that none of us are fortune tellers and have a degree of bias on the subject. Also how close does nickel follow the trends of precious metals like gold and silver?
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kirkland
New Member
USA
0 Posts |
Posted - 02/23/2010 : 07:45:05
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Nickel, a base metal like copper, is a very useful metal that may have a potential future increase in value. Some say it is likely that we could get into a war in the next 2-10 years, and if so, nickel will soar in value because of it's usefulness in bullets and other war materials. In WWII, the U.S. 5 cent coin had to be changed to silver, manganese and copper because nickel was needed in the war effort. However, even if there is no war, I think nickel will have a positive future when you consider inflation.
Just my 5 cents! |
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NiBullionCu
Penny Pincher Member
USA
168 Posts |
Posted - 02/23/2010 : 08:33:17
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Also, Ni is necessary for a variety of stainless steel alloys.
The $20 Plus range that Ni held awhile ago caused many manufacturers to review their stainless steel needs and many found alternatives to Ni bearing alloys.
(My BIL works for Whirlpool and they reassessed where they needed Stainless Steel and made substitutions wherever they could)
There was also a change of rules on the LME (London Metals Exchange) to thwart the "cornering" of Ni
I personally think we will be hard pressed to see $20 Ni in the near future.
I think $10 - $12 is more realistic when/if the economic recovery begins and items that require Ni bearing stainless steel are being produced in quantity again. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/23/2010 : 08:54:56
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| I would guess 5 plus years before the market is really up and running. |
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ZigMeister
Penny Pincher Member
USA
229 Posts |
Posted - 02/23/2010 : 10:55:20
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| It's an additional store of value when the FRN continues its downtrend. If inflation heats up, the skys the limit...who knows when. Having some Au, Ag, Cu and Ni (plus some extra food and tools) seems to be a prudent idea. |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 02/23/2010 : 11:05:29
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quote:
Originally posted by kirkland
Some say it is likely that we could get into a war in the next 2-10 years, and if so, nickel will soar in value because of it's usefulness in bullets and other war materials.
I think we're in a war right now. What's nickel doing?
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Trust the government? Ask an Indian. |
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AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 02/23/2010 : 14:00:53
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quote:
In WWII, the U.S. 5 cent coin had to be changed to silver, manganese and copper because nickel was needed in the war effort.
Kirkland, it is debatable whether it was necessary to produce war nickels (35% silver) for the war effort. From a argument I saw on another forum...
"The answer is that the coin was a propaganda piece. The govenrment told the people that the subsitution was necessary to divert nickel for the production of steel armor plate. However, nickel came from Canada and the supplies were never in jeopardy. By changing the composition of the 5-cent coin and changing the Mint marks (P for the first time), the government could create a constant reminder of the need for sacrifice, etc., for the war effort "on the home front." Of course, in that case, using steel or iron was out of the question."
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Edited by - AGCoinHunter on 02/23/2010 14:03:11 |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 03/17/2010 : 02:35:12
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| Nickel goes up and down with the industrial world. One thing that caused the huge skyrocket in Ni prices in 06 was china. A lot of industrial equipment is made of stainless. As China was building industry they needed a lot of nickel. One thing many people don't know is the gov of china has rules against the country accepting used equipment thus US factories moving there had to buy new equipment. As the world economy recovers it will go up in price. I'm not sure it will climb as fast as copper however. Although these commodities have gone up together in the past I think they will be different in the future. As more and more electronics are produced and countries rebuild there grids and make the "smart" I think copper will climb faster than nickel. Still for the near term there is nowhere for nickel to go but up. It will climb as the economy recovers and when world wide inflation starts it will be a good ride for nickel. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/17/2010 : 19:55:11
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| You may find this interesting if you haven't already seen it. You must be logged in to see this link. |
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Think positive. |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 03/20/2010 : 19:47:15
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| I have a little Ni and plan to get more. I do tend to look at it as a longer term investment than some of my other metals. |
Are you throwing that out? |
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Cupronickel
Penny Pincher Member
USA
110 Posts |
Posted - 03/21/2010 : 19:30:21
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| The INCO miners are still on strike. When/If they ever settle, I'd look for nickel to drop a couple bucks. |
Edited by - Cupronickel on 03/21/2010 19:30:59 |
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Nickels Future
Forum Locked
