Nickel prices have soared to all-time highs in the wake of Russia's invasion of Ukraine, threatening the global transition to electric vehicles.
London Nickel prices have soared to all-time highs in the wake of Russia's invasion of Ukraine, threatening the global transition to electric vehicles.
The London Metal Exchange suspended trading in nickel on Tuesday for the first time in its 145-year history after prices doubled in a matter of hours to $100,000 per metric ton.Prices eased back to about $80,000 per metric ton. But that's still far above the previous record of $52,000 per metric ton set in 2007. The metal is a key component in lithium-ion batteries used in EVs, and is one of several commodities that have spiked in price since Russia attacked its neighbor.