Nickel futures rallied past $24,800 per tonne, the highest since...

Nickel futures rallied past $24,800 per tonne, the highest since May of 2011, as supply woes intensified amid aggravating tensions between Russia and the West over Ukraine. Russia being a major producer of nickel, sanctions on Russian companies could lead to major supply disruptions and to further hikes in raw material prices.
Meanwhile, resource analysts said Norilsk Nickel, who produces 7% of world output, was unlikely to be hit by sanctions that target minority shareholder Rusal because these were expected to hit shareholders with majority stake only.
Finally, nickel inventories in LME-registered warehouses have dropped 69% since April to 83,328 tonnes as the demand from the stainless steel and battery sectors remains very strong.

Looks like good timing with drilling results pending.