Copper $10,070 a tonne and at a record high as are Zinc and Aluminium. However Nickel puts them in the shade in terms of a move up-having been $54,880 on Monday it reached $101,365 per tonne before retracing to $80,000: 4 times the price at the start of 2022. Nickel is currently suspended on the LME until 11-03-22 while margin calls are made and hopefully settled. Tsingshan Holding Group, the world’s largest Nickel and Stainless steel producer is reported to be the wrong way round ie short, and owner Xiang Guangda nicknamed “Big Shot” down $5 billion. The implications of these moves go far beyond the metals market-especially to the auto manufacturers. VW is heavily exposed to Russia which accounts for 44% of Germany’s Nickel imports, 30% of its Iron and 18% of Palladium necessary for Catalytic Converters. Torrid times.
Ahead of green tea, avocados and berries in the superfood league is the potato when eaten including the skin: high in many vitamins including Vitamin C, fibre, minerals and fibre among other attributes the potato was instrumental in eradicating scurvy in sailors. When the potato first arrived in 17th century Europe imported by the Spanish , it got off to a poor start as many people considered it poisonous and so refused to eat it. Subsequently grown to feed cattle it was some time before it became accepted as a food staple for humans.
Greggs of the UK for example has warned that their results will be negatively affected by rising costs and staff pressures. Staff shortages due to many staff not returning post pandemic and rising costs due to inflationary pressure, rising energy costs and last but not least higher wheat and meat prices. Those sausage rolls will cost more for all those reasons but also since many of the costs of the food arise overseas, Greggs like all similar companies are watching GBP/EUR 1.2040, GBP/USD 1.3110 and EUR/USD 1.0880 and juggling their budget assumptions as well as the price of bangers no doubt.
Rolling Stones fans will recall this hit released by Mick Jagger this day in 1985. Despite only reaching Number 12 in the USA, it did a lot worse in the UK, not that Sir Mick as he now is deserves a violin or much sympathy as he remains one of the richest rockers globally. Here is the song and a steer on his success with the ladies:
Give me just another night, just another night with you
Give me just another kiss, just before the dawn breaks through
‘Cause I’m homesick, feel a little down and blue
And I’m hurting, hurting baby just like you
I was lonely ’til I saw you at the station
And I never thought you’d keep our rendezvous
Baby it’s true
Give me just another night, just another night with you
Give me just another kiss, just before the dawn breaks through
‘Cause I’m hungry, hungry for your loving baby
And I’m thirsty, thirsty for your loving baby
And a one-day pass to Heaven is so hard to find
And a one-night pass ain’t really what I had in mind
I need your sweet tenderness, I need your soft caress
I know the day is coming, don’t take away your loving
Can’t you see that I’m human?
Just because you’ve seen my face, just because you know my name
I’m a stranger in this town
Can’t I have my ups and downs?
Can’t you see that I’m human?
I get hungry, get thirsty
I get moody, I need attention
I need your love
I need your love
I want your love
Give me just another night, just another night with you
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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