Nickel surge may have Vale reworking its base metal calculations
There’s one simple reason why Vale SAwas one of the few shining lights among major Brazilian shares Monday -- nickel. While Vale gets most of its earnings from iron-ore, it’s also one of the world’s biggest producers of nickel. The metal that helps makes steel stainless and is used in lithium-ion batteries posted a whopping 66% gain in London. Prices have doubled in the past five trading days as intensifying fears over Russian supplies leave buyers exposed to a historic squeeze.