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17 May

Nickel prices surge amid New Caledonia’s unrest

Nickel prices traded at the London Metal Exchange surged over 5% on Friday amid violent protests and unrest in New Caledonia, the world’s third-largest nickel producer in 2023. The metal jumped nearly 7% intraday trading at $21,150/tonne, before easing back to a gain of around 5% at $20,880/t. The futures contracts boost was supported by concerns about further supply disruptions in New Caledonia, and the IEA’s forecast of future supply shortages drive…
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