$VALE Strikes Deal To Supply Nickel to $TSLA


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.


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


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