Nickel Prices Jump Over 100%, Breach $100,000 A Ton For The First Time Ever
NDTV
Nickel prices more than doubled to breach $100,000 per ton for the first time ever on Tuesday, as supply disruption fears gripped markets.
Nickel prices more than doubled to breach $100,000 per ton for the first time ever on Tuesday, after their biggest daily percentage gain on record in the previous session, as supply disruption fears gripped markets amid an escalating Russia-Ukraine conflict.
According to Reuters, three-month nickel on the London Metal Exchange soared 71 per cent to $82,250 per ton. Earlier in the session, the prices shot up a touch over 110 per cent, to a record $101,365 per ton.
"Fear of shortages is triggering panic buying," Vijay L Bhambwani, head of research at Mumbai-based Equitymaster, told Reuters.
Oil and other commodities prices have soared as industrial buyers and traders scrambled amid supply disruptions linked to Russia's invasion of Ukraine.
