Nickel hits record high of $54,880 per tonne due to Ukraine conflict

Source: Pixabay

Nickel soared to a record high of $54,880 per tonne as the economic fallout from the Ukraine conflict widened Monday.

Russia, which invaded its neighbour 12 days ago, is a major producer of the metal used to make stainless steel and batteries for electric vehicles, and supply fears saw its price soar an unprecedented 90 percent on the day and shatter its 2008 peak of $48,000 per tonne.

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Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.

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