0314_(Translation Practice) Nickel riding high on electric vehicles and supply shortages

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Mar 14, 2018 01:05 translation TC-to-EN
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Source (text in the original language):

The price of Nicke on London Metal Exchange (LME) has gone 50% higher from the downturn at the end of 2015, but still is still a long way off from its historical high of 30000 USD per ton, because of the rise of metal prices due to US dollars’ decreasing value and global need for Nickel for electrical vehicles’ batteries.

According to experts, Nickel is typical case of lagging index, whose demand has been left behind for past years. Therefore, mining companies have reduced their investment, which as a result, failed to meet the current increasing needs for it. However, others consider electrical vehicles haven’t been commonly used in our everyday life and that the price just has been driven up.

LME’s Nickel price was increase by 1.8%, to a point of 13500 USD per ton, reaching a new record high in the past 3 years, mainly because favorable economic data from China have been improving and demanded more steel and Nickel. It resulted in the increasing prices of households in January, and China’s manufacturing survey also revealed an expansion in orders in February.

全球商品經紀公司Marex Spectron表示,國際鎳價已漲了一年,目前看來還在向牛市前進。分析鎳價強勢的原因,電動車題材只能算是錦上添花,最主要還是美元疲軟;另外全球經濟復甦及工業自動化也是助力。美元指數一月底創下八十八點四三的波段低點,讓許多大宗商品都走強。
Global commodities broker Marex Spectron said that the international price of Nickel has been on the rise for a year and still in the “Bull Market”. According to analysis, electrical vehicles are just a cherry on the cake, while the weak USD value is the main reason behind the rise. In addition, the recovery of the global economy and the automation of industry are also accommodating the rise. The indexes hit the a low of 88.43 points, making many main commodities’ prices grow higher.

The mining industry pointed out that it is highly challenging to increase the production because of the long weak demand for Nickel and the shortage of investment from mining companies, which causing short supply of Nickel, and it drove up the price.