2 Top Nickel Stocks to Buy in 2017
Nickel is one of the most versatile metals in the world. It's in everything from batteries to shower heads to coins. However, it's primarily used to make stainless steel. Hence, demand tends to ebb and flow with the need for this type of steel, which has declined in recent years, weighing on the price of nickel. It recently hit a four-month high, though, thanks in part to news that the world's second-largest producer, Russia's Norilsk Nickel, would miss production expectations this year.
That said, while it is an essential metal for our modern economy, there are few easily accessible nickel mining stocks out there for investors who want to profit from directly from its production. Instead, they need to dig deep because buried within some of the biggest mining companies are many of the largest nickel businesses. In fact, the first- and third-largest nickel producers in the world are mining giants Vale (NYSE: VALE) and BHP Billiton (NYSE: BHP), which makes them the top options for investors looking to profit from a future recovery in nickel.
Image source: Getty Images.
Source: Fool.com