Nickel trading resumed on the London Metal Exchange (LME) on March 16 after being suspended for more than a week. The exchange took an unprecedented step to halt trading in the nickel market on March 8 after a Chinese metal tycoon faced billions of dollars in losses due a large short position. Last week, nickel’s price skyrocketed, crossing the $100,000-a-ton mark for…
Nickel Trading Resumes in London After a Rescue Deal for Chinese Tycoon Reached
LME Halts Trading After Nickel Prices See Record Run
March 9, 2022
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The London Metals Exchange (LME) said it was forced to cancel all nickel trades on March 8, after the contract spiked as much as 111 percent to more than $100,000 per tonne, before trading was halted. The LME said the halt was due to the conflict Ukraine as well as the low-stock environment and high…
Why Tesla, Rivals Could Find It Tough to Launch Affordable EVs If Russia–Ukraine War Keeps Raging
March 8, 2022
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Prices of nickel and other key electric-vehicle materials have skyrocketed as the Russia–Ukraine war has sparked supply worries, and could throw a wrench into the plans of Tesla Inc. and its rivals to launch cheaper cars, according to media reports. What Happened Nickel prices soared 62 percent on Monday to an almost 15-year high of over $40,000…
Gold Above $2,000 on Safe-Haven Appeal; Nickel up Over 20 Percent
Gold climbed to its highest in one-and-half years on Monday and palladium hit an all-time high on safe-haven asset appeal, while nickel soared over 20 percent on fears of supply disruptions tied to sanctions on Russia and continued fighting in Ukraine. Gold prices rose above $2,000 per ounce, palladium hit a record, LME 3-month nickel…
Russia’s Move Into Luhansk and Donetsk Sends Nickel, Aluminum Prices Soaring
February 22, 2022
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The prices of nickel and aluminum have spiked after Russia declared two pro-Russia areas in Ukraine as independent regions and moved troops into the country. Russia is a major producer of these two metals. Aluminum prices, which were trading around $3,270 per ton on Feb. 21, jumped 3.67 percent to around $3,390 per ton on…
Exclusive: Gosar Says Democrats ‘Want to Cripple And Destroy The Mining Process’
January 17, 2022
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Rep. Paul Gosar (R-Ariz.) told The Epoch Times that several Democrats should be stripped of their committee assignments if Republicans regain control of Congress in the 2022 midterm elections. In November 2021, Gosar was censured and taken off committees after his Twitter account shared an anime video in which a cartoon version of the congressman…
South Korea Eyes Australia’s Minerals To Surpass China As Battery King
December 14, 2021
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South Korea is making a beeline for Australia’s vast critical mineral deposits in a bid to reclaim the throne as the world’s biggest electric vehicle battery maker. With South Korean President Moon Jae-in becoming the first international leader to visit Australia since the reopening of its borders, the two nations have made significant bilateral strides—including…
New Caledonia’s Prony to Supply Nickel to Tesla in Multi-Year Deal
MELBOURNE—Prony Resources said on Wednesday Tesla Inc. had agreed to purchase around 42,000 tons of nickel in a multi-year deal—a pact that is set to make the New Caledonian miner a key supplier of the metal to the U.S. electric car maker. Prony, which bought the loss-making nickel operations in the French territory from Brazil’s…
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