Nickel drops 2% despite hopes over Tesla's approach
Economies.com
2020-09-10 13:45PM UTC
Nickel prices fell on Thursday, despite the US dollar's drop against its peers, and optimism over the electric vehicles manufacturer Tesla's plea.
Tesla's CEO Elon Musk recently said that the company will look into using metals such as nickel and aluminum instead of lithium in the manufacturing of electric cars batteries.
Musk emphasized that nickel is preferred because it is efficient and also environmentally friendly.
The dollar index fell against a basket of currencies by 0.5% to 92.8 points as of 14:31 GMT, after it hit an intraday high of 93.2 and a low of 92.7.
Nickel spot futures 2% to $14,822 per tonne as of 14:42 GMT, after closing yesterday at $15,115.
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