Markets are gripped by a “fever” in the face of the unpredictable economic impact of the war in Ukraine, which triggers a rise in raw material prices and shocks \nThe nickel price continued its crazy course today: it set a new record and broke – for a short time – the barrier of 100,000 dollars per ton in the international commodity markets, as investors do not rule out the possibility that Russia may not be able to export it very soon. its production. \nAround 09:00 (Greek time) the price of nickel recorded an increase of more than 70%, to 82,195 dollars per ton. It reached its all-time high of $ 101,365 a tonne shortly after 8 p.m. He had already set a record the previous day. \nThis is an increase that reached up to 250% in two days, with the result that the London Stock Exchange (LME) stopped trading in this metal. \nThe suspension is valid at least for the rest of today’s sitting. The LME announced that it will calculate the profit margins “for now” based on Monday’s closing price, ie around $ 48,000. \nHe also said he was considering adjusting or canceling trading between Monday’s close and the time of suspension, when prices reached $ 101,365 per tonne. \nMarkets have been gripped by fever in the face of the unpredictable economic impact of the war in Ukraine, which has triggered a spike in commodity prices and shocks. \nAlthough all metals have risen in price since the beginning of this week, nickel, which is used mainly to make electric car batteries, with Russia being one of its largest exporters, is rising at a truly dizzying pace. \n“Russia is the third largest producer of nickel in the world and the largest producer of primary nickel products, such as refined nickel, which is essential for electric car batteries,” said Benjamin Louve, an OFI AM analyst. \n“For the time being, the main (Russian) companies that produce metals have escaped sanctions, but many of the companies in this sector are run by oligarchs close to Vladimir Putin,” he continued. “The impact of sanctions on them” could be significant, as 37% of Russian exports go to the Netherlands and 16% to Germany, “he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Markets are gripped by a “fever” in the face of the unpredictable economic impact of the war in Ukraine, which triggers a rise in raw material prices and shocks The nickel price continued its crazy course today: it set a …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":["post-5609","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"