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Nickel Spikes 60%: Here’s Why That Matters and Who Will Be Hit

  • Metal’s use in EV batteries has caught the market’s attention
  • Carmakers like Tesla see higher costs as nickel prices soar

The price of nickel spiked more than 60% Monday, one of most extreme moves ever seen on metal markets. Here’s why that matters and who’ll take a hit.

The metal added more than $10,000 to trade at a 15-year high above $40,000 a ton -- the biggest-ever daily dollar gain in the 35-year history of the contract.