January 21, 20226:42 AM GMT+13Last Updated 5 hours ago Nickel prices hit 2011 high on low inventories By Zandi Shabala
LONDON, Jan 20 (Reuters) - Low inventories propelled prices for nickel to their highest since 2011 on Thursday, with future demand expected to rocket thanks to higher electric vehicle battery consumption.
Benchmark three-month nickel on the London Metal Exchange (LME) climbed 1.8% to $23,565 per tonne by 1721 GMT, after touching their highest since August 2011 at $24,435.
The most-traded February nickel contract on the Shanghai Futures Exchange hit a record high of 176,280 yuan ($27,796.52) a tonne.
MXR Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
