PRESS ROOM
Nickel and aluminium start the year with strong positive moves
Friday 21st January '22
Nickel has started the new year on a strong footing and was among the top performing commodities over the last month. Nickel, a crucial battery metal, remains tight as apparent from its backwardated futures curve as well as declining inventories on exchange. Aluminium, too, has made meaningful gains over the last month. Aluminium production tends to be very energy intensive which is why rising global energy prices have caused many aluminium smelters in both China and Europe to cut production. This has exacerbated the tightness that was created when China initiated a drive to decarbonise its coal-intensive aluminium industry last year.