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Nickel price surpasses $46,800 per tonne on LME first since June 2007, says trading data

According to the experts, the price of nickel is rising amid fears that Russian supplies may be restricted by sanctions or other actions of the West

MOSCOW, March 7. /TASS/. The price of nickel exceeded $46,800 per tonne on the London Metal Exchange (LME) on Monday for the first time since June 2007, according to trading data.

As of 4:10 pm Moscow time, the nickel price was up by 60.83% at $46,850 per tonne. As of 5:00 pm it slowed down growth to $40,955 per tonne (+41.62%).

The price of nickel is rising amid fears that Russian supplies may be restricted by sanctions or other actions of the West, Head of Equity Research at Alfa-Bank Boris Krasnozhenov told TASS.

Russia’s share of global supplies of net nickel, which is used in the production of accumulator batteries, roughly stands at 30%, the expert added.