|Bid||68.44 x 800|
|Ask||69.04 x 800|
|Day's Range||68.74 - 69.05|
|52 Week Range||42.48 - 73.92|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||0.45%|
Indonesia finally prepones the export ban on nickel ore. We discuss its impact on the nickel ETF that has been displaying an uptrend since the onset of 2019.
Nickel prices and related exchange traded note climbed Friday after Indonesia's government plans to ban exports of nickel ore earlier than markets expected, fueling concerns of a supply shortage for the base metal. Nickel markets rallied Friday after Indonesia's Energy and Mineral Resources Minister Ignasius Jonan said ore exports would be banned from the end of December this year, stoking fears of a supply shortage, the Wall Street Journal reports. While most metal markets came under pressure from the extended U.S.-China trade war and fears of a global manufacturing slowdown that would diminish demand for raw materials, nickel prices have now surged in 2019 and touched highest in almost five years.
A little nickel exchange traded note has quietly outperformed, with nickel prices rising to a one-year high Thursday, as diminished supply and bullish speculators help drive up this base metal. In comparison, the Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) , the largest U.S.-listed broad commodity ETF, gained 7.6% so far this year. Nickel for delivery in three months on the London Metal Exchange advanced 3.5% to $14,955 per metric ton and was on pace for its highest settle since June 2018 and was set to market its 12th consecutive session of back-to-back gains, the Wall Street Journal reports.
Barclays Bank PLC announced a temporary reduction of the minimum early redemption size of certain series of ETNs as specified in the table below .
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