Manganese/Downstream best performers; Ni/Co lag
Our Manganese (+33%) and Downstream (+23%) equity baskets were the best performers in August 2020, beating the S&P Global 1200 index (+6%) and the Solactive Battery Value Chain index (+13%) comfortably. Our Cobalt basket was the worst performer, down 2%, while our Nickel basket (+4%) underperformed global equities, the battery sector and LME nickel and nickel sulphate prices. While other materials equities have performed in line with materials prices over the past two months, nickel has substantially underperformed for reasons that we don't understand.
Topics
Cobalt
Downstream
Equities
Manganese
Nickel
