Nickel rose in price up to the year maximum

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In the end of the previous week nickel prices reached its maximum value for last 12 months. On Thursday at the London Metal Exchange, this asset was trading at $ 14,995 per ton, which is 3,5% higher than its value at the close of the previous session. Since the beginning of this year, the price of nickel has increased by 39%, indicating one of the fastest growth rates of value among all commodities. The reason for the appreciation of the metal was the fear of its shortage in the world market due to the drop in nickel supplies caused by several natural disasters in Indonesia. As the Dutch ING reported, nickel reserves on the London Metal Exchange dropped to 149 thousand tons, which is the lowest level in the last 6 years. At the same time, the use of nickel in the production of batteries for electric vehicles, whose market demonstrates significant growth, increases investor demand for this metal.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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