nickelinvesting
With its diverse applications in both technology and industry, nickel is a metal that will never go out of style. Nickel is commonly used in alloys to create stainless steel, but more recently has found a modern use: batteries. As the electric vehicle trend gains steam, the base metal is in high demand for its role in lithium-ion batteries. Nickel has encountered much volatility in the past few years. Prices spiked abruptly to a record US$100,000 per tonne in March 2022, prompting the suspension of trading on the London Metal Exchange. The metal sank much lower in 2023, ending the year at arou...
Investing News Network
Prices for several metals jumped this week as the London Metal Exchange (LME) banned metal produced in Russia from its system. The moratorium applies to material produced on or after April 13 of this year. The restrictions apply to copper, nickel and aluminum, and were passed down by the US Department of the Treasury and the British government on April 12. They are also in place for the Chicago Mercantile Exchange (CME). This move aims to curb financial flows that fuel Russia's military activities in Ukraine, which began in February 2022. According to Bloomberg, aluminum soared as much as 9.4 ...
Investing News Network
At the start of the year, experts were predicting that nickel prices would be rangebound in 2024. With the first quarter in the books, that story seems to largely be playing out. After opening the year at US$16,600 per metric ton (MT) on January 2, nickel was stable during January and February. However, March brought volatility to the sector, with strong gains pushing the base metal to a quarterly high of US$18,165 on March 13. Nickel's price rise failed to hold, and it once again dropped below the US$17,000 mark by the end of the month. Ultimately, the metal fell to US$16,565 on March 28, res...
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