By Shane Lasley
Metal Tech News
Shot across the bow for battery metals
Historic nickel debacle reveals EV revolution vulnerabilities Metal Tech News – March 16, 2022
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Last updated 7/12/2022 at 1:57pm
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Rising demand, tight supply, war, and a short squeeze sent the price for nickel rocketing to 250% to a peak of above US$100,000 per metric ton on March 7, forcing the London Metals Exchange to halt trading for more than a week.
Rising demand, tight supply, war, and a short squeeze on a China-based stainless steel titan came into perfect alignment to rocket the price of nickel to historic heights.
The price for a pound of nickel soared nearly 250% over two days to a brief altitude above US$100,000 per metric ton, or US$45 per pound, on March 7. This prompted the London Metal Exchange to halt trading of the battery meta...
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