fter the continuous rise in aluminum prices, nickel prices also started to follow suit
Coincidentally, after the continuous rise in aluminum prices, nickel prices also started to follow suit. On April 19th, LME nickel prices were once soared to US$16,690/ton. "As RUSAL's major shareholders accounted for 28% of Russia Nickel's shares, so the market is worried that Russia and nickel companies will also be subject to sanctions." The above futures investors said that the aluminum and nickel prices are basically the same logic of increase.
Although Russia’s nickel has not been sanctioned, it is understood that US companies that currently trade with Russia and nickel have not issued relevant trade letters of credit for Russia’s nickel, and the market’s concern about the sanctions imposed on Russia’s nickel has risen sharply, boosting nickel prices. At the same time, two Russian and nickel brands will be written off from the LME list. The act was initiated by Russian Nickel, not by the LME, and it was not related to the sanctions imposed by Russia and Nickel. However, due to the sensitive period of US sanctions against RUSAL, it was prone to be speculated by the market.
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