# Nickel and Thermal coal

Their prices have moved together.

Source page: https://www.materialinsights.org/links/nickel-and-thermal-coal/

[Nickel](https://www.materialinsights.org/commodities/nickel/) (commodity) and [Thermal coal](https://www.materialinsights.org/energy/thermal_coal/) (energy): 1 relationship.

## How they are linked

### 1. Price link: energy cost

*Cost and price · Moderate · Both ways*

Indonesian nickel pig iron and matte plants run on captive coal-fired power, so coal sets much of their cost and so the floor price for nickel. Monthly moves correlate at 0.26 and yearly at 0.37, a real but partial cost link.

- **0.26** monthly change correlation
- **0.36** 12-month change correlation
- **0.24** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.