MINING.COM: RANKED – WORLD’S BIGGEST NICKEL PROJECTS – 2022
Nickel is used mainly in the steelmaking process, but also in production of batteries for electric vehicles, and it is the metal that has grabbed the most headlines so far this year.
This week alone, the price jumped by the 15% daily limit on the London Metal Exchange, adding to a string of sharp price moves as the market seeks to reset following an unprecedented short squeeze and week-long trading halt.
A chaotic trading whirlwind at the beginning of March saw the nickel price spiking 250% to a high of $101,365 a tonne. The spike was driven in large part by a short squeeze centered on Chinese tycoon Xiang Guangda, who had amassed a big wager that nickel prices would fall through his company Tsingshan Holding Group Co.
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