Daimler, the German company which makes Mercedes Benz cars, gave investors in nickel stocks cause to smile this week even if the news of what its head of research said at the Geneva motor show has been slow to filter through to the Australian mining industry.
Lithium stocks took a hit on Tuesday, rebounded on Wednesday and in some cases, ended the week higher than they started, which all leads to the question of what caused the Tuesday sell-off and was it significant?
The power of an apple is well known, either in keeping the doctor away or for pleasing a teacher. But what Australia’s mining industry learned this week is that Apple, of the technology species, is emerging as a powerful driver of future battery metal demand.
Gold resumed its leadership role in commodity and currency circles this week thanks to the intervention of three old men, two speaking with overdue clarity and one continuing to behave like a bull in a china shop.
One company cannot truly reflect the near-boom conditions in Australian mining today, but if you had to choose one it would be Ausdrill, a drilling rig contractor, which added 18c to $2.76 over the past week -- taking its rise over the past two years to $2.55, or 1214%.
Ignorance is not bliss, it’s actually quite expensive, as some investors in lithium stocks discovered this week as the shock of last Friday’s sell-off gave way to fresh details of what’s happening in Chile’s lithium industry.
Battery metals reclaimed centre-stage on the Australian stock market this week as pressure grew on industry leaders from a rising dollar and falling base metal prices, while gold stocks were weighed down by a currency-induced slip in the local gold price.