Ni closed at US $19674 yesterday- the highest price since c.12.9.23. It appears the long & agonising fall, from c. US $29500 in April '22, to US 15622, on 9.2.24, is over
Some detailed analysis on the implications of the ban on new (ie produced after 13.4.24) Russian Ni (Russia accounts for 6% of world Ni production, & is world's second biggest Ni exporter) by the USA & UK from 19.4.24. Will the EU adopt a similar policy? The Economic Times (India) & Bloomberg 15.4.24 stated
"...But there are disagreements about the broader impact of the move: Some argue that removing one of the largest producers from the market will drive prices higher, while others are focusing on the prospect of a flood of old Russian metal — which is still permitted — getting dumped onto the LME.
