How to play nickel’s turnaround

Nickel is the only commodity that is named after the devil. The name Nickel is derived from the German term “Kupfernickel”, which means devil’s copper. From the 15th century, miners mistook nickel for copper ore. Miners were fooled by the red colour. The disappointed miners blamed Old Nick — a pseudonym for the devil.

Swedish chemist Axel Constedt identified nickel as an element in 1751. He tried to extract copper but found a white metal instead. This white metal is what we now call nickel.

Nickel has been at the heart of industrialisation and is the principal component for steel production. The discovery of stainless steel in the early 20th century provided nickel with a killer app. The vast storage tanks that transport oil are made of stainless steel. Modern skyscrapers would not exist without it.

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