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.