PRESS ROOM
Volatility in nickel markets
Friday 25th November '22
Nickel prices spiked sharply on 15 November when news of an explosion in an Indonesian nickel factory emerged. This was later denied by Indonesia and prices have come down again. The strong reaction illustrates nervousness in markets on very low levels of nickel inventories in London Metal Exchange (LME) warehouses. Low inventories are among the reasons why the LME recently decided against banning Russian metal (including nickel). Low inventories could also create a situation of acute tightness if demand shows signs of improvement.