Nickel Climbs After U.S. Renews Warning of Russian Invasion
- Metal rises to highest since late January on supply concerns
- Russia exports 5.3% of global nickel production, JPM says
A worker works on newly-made nickel cathode sheets in Monchegorsk, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Nickel rose to the highest in more than three weeks on concern that supply from Russia could be disrupted amid growing geopolitical tensions in Ukraine.
The U.S. ramped up warnings of a possible Russian attack on Ukraine, with President Joe Biden saying a “false-flag” event may be underway and a top diplomat describing Moscow as moving toward an “imminent invasion.” Russian officials said no invasion of Ukraine was underway and none was planned.