$VALE Strikes Deal To Supply Nickel to $TSLA

https://www.ft.com/content/352129a3-9d77-4a0d-9ce2-4d385cb1c…

Tesla has agreed a long-term deal to buy nickel from global miner Vale as the carmaker looks to secure the raw materials needed for its batteries.

Nickel is needed for the most powerful lithium-ion cells used in electric vehicles and the supply agreement with the Brazilian group marks the latest move by Elon Musk’s group to lock down non-Chinese supplies.

Analysts estimate more than 80 per cent of the world’s nickel processing is based in China and 60 per cent of the world’s nickel mines are Chinese owned.

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My charts are in the second tweet of this 2 tweet thread:

https://twitter.com/peregreine/status/1523296578714230784

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