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Why Goldman thinks nickel is trading like a biotech start-up

Nickel has been the strongest performer among the base metals traded on the London Metal Exchange (LME) this year.

Trading currently at $12,450 per tonne, LME three-month nickel is up by more than 14% since the start of January. Zinc, which has put in the next best year-to-date performance, is up by only 5%.

Nickel is defying both the general macroeconomic concerns weighing on other industrial metals and signs its own internal dynamics are weakening.

n September 2017, Anglo Pacific Group PLC (LON:APF) entered into a royalty agreement with Brazilian Nickel Ltd to acquire an initial 1% gross revenue royalty over the Piauí nickel-cobalt project.

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