LME Closely Monitoring Nickel After Price Soars “The London Metal Exchange (LME) said on Monday it was closely monitoring nickel and other metals after prices surged as Western sanctions against Russia disrupted supply from the major producer.
Benchmark three-month prices for LME nickel CMNI3, which is used to make stainless steel and batteries for electric vehicles, surged about 60% on Monday to $46,850 a tonne, and have now nearly doubled since Russia invaded Ukraine on Feb. 24.
‘We note the large price move in nickel over the weekend and are monitoring all metals closely to ensure market activity remains orderly,’ the LME said in a statement.
‘We have further options available to ensure continued market orderliness if these are required.’
The LME gave no indication of what action it could take or whether it might be similar to previous action.”
https://www.nasdaq.com/articles/lme-watching-nickel-after-price-soars-on-russia-supply-concerns