The war in Ukraine, which began a few weeks ago following the invasion by Russia, is already having consequences not only directly in terms of import / export with the countries concerned (think of the sanctions imposed by the EU), but also indirectly , such as the unpredictable effects on nickel price fluctuations.
Nickel is widely used in the preparation of alloys characterized by ductility, resistance to corrosion and heat, therefore in stainless and alloyed steels, rechargeable batteries, catalysts and other chemical products. Like many other commodities, the price you buy on the market depends on the price at which metal futures are traded on the London Metal Exchange.
Russia is also among the largest nickel producers in the world (about 17% of the world total), along with Indonesia, the Philippines and Australia.
It is therefore easy to understand the effects that a war that has Russia as its protagonist, accompanied by all the sanctions on imports and exports imposed by the EU, can have on the prices of this raw material. It is astonishing to think that while in the last 5 years the price of Nickel has increased by about $ 11,000 per ton, just two weeks ago it jumped by as much as $ 72,000 in a few hours, so much so that London was forced to temporarily close trading.
Source: LME Nickel
Although trading has resumed and the Nickel price is down, there is still a considerable increase compared to “normal” levels, dictated by the political and economic situation and the consequent concerns about supplies.
Masterinox staff is working with its supply chain in order to maintain as much continuity as possible in terms of material supply and consequent productivity.
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