Niocorp Developments Ltd (NB)

[Middleborder]

PM, Chico; all: "Nickle prices hit $100,000 per tonne before the London Metals Exchange (LME) was forced to step in and halt trading for the next few days."

Nickle is one of TechMet's products. Lets hope he was able to secure some good pricing on his future output and/or holdings before they shut down the exchange. Lets hope that Niobium and Scandium will start enjoy more exposure as alternative high end metal alloy products!

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145-year-old exchange halts trading as price more than doubles

The run on nickel was instigated by Russia’s invasion of Ukraine, and made worse by its subsequent decision to ban commodity exports in response to sanctions from the U.S. and its allies.

Russia accounted for roughly 9.2% of the world’s total nickel mine production in 2021, and holds 7.5 million tonnes of the metal in reserves, according to the U.S. Geological Survey. If Russia moves forward with its decision to ban nickel commodity exports, it means supply constraints for the metal are inevitable.

“This has never happened before in the history of the nickel market,” Guy Wolf, the global head of market analytics at Marex, an energy and commodities broker, told The Times on Tuesday. “‘Unprecedented’ is an overused word, but this actually is.”
The mother of all short squeezes

Nickel’s incredible price gains this week also caused the "mother of all short squeezes" for firms trading in the metal on Tuesday, which only pushed prices higher, Craig Erlam, a senior market analyst at OANDA, told Insider."