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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":723,"relatedVideos":724},112469711861164,"c2e633f7-ee41-420a-8123-8f2742a4e8f3","Nickel prices rise after US, UK sanctions on Russian metal","nickel-prices-rise-after-us-uk-sanctions-on-russian-metal","article/nickel-prices-rise-after-us-uk-sanctions-on-russian-metal",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":703,"featured":51,"reporter":704,"_editable":708,"component":709,"seo_title":543,"categories":710,"visibility":715,"author_company":49,"featured_image":716,"seo_description":703,"author_full_name":49,"author_job_title":49,"formattedDate":721,"formattedArticleDate":722},"adeba531-fb00-4899-b61b-4269725758c2","2024-04-18 00:00",[550,553,556,559],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"nickel-prices","Nickel prices",{"slug":557,"name":558},"uk","UK",{"slug":560,"name":561},"us","US",[563],{"slug":564,"name":565,"content":566},"matthew-bird","Matthew Bird",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Senior Editor - Supply Chains & Data Visualisation",{"filename":569},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":573,"content":574},"doc",[575,592,604,609,622,627,640,645,650,655,660,673,680,685,698],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579,582,590],{"text":580,"type":581},"Prices of all ","text",{"text":583,"type":581,"marks":584},"nickel",[585],{"type":586,"attrs":587},"link",{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/lower-cobalt-and-nickel-prices-to-ease-battery-cell-price-jump","url",{"text":591,"type":581}," chemicals, except Chinese nickel sulphate, rose briefly in mid April in response to sanctions by the US and the UK banning deliveries of Russian metal supplies for Russia’s invasion of Ukraine.",{"type":576,"attrs":593,"content":594},{"textAlign":49},[595,597,602],{"text":596,"type":581},"The sanctions, which came into effect over the weekend, halted deliveries of any new Russian supplies of ",{"text":583,"type":581,"marks":598},[599],{"type":586,"attrs":600},{"href":601,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/indonesian-nickel-investments-buck-wider-downturn",{"text":603,"type":581}," to the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME), pushing up prices of nickel chemicals linked to the two exchanges.",{"type":576,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":581},"Prices increased 1.5% to $18,505 per tonne for nickel sulphate CIF Asia (normalised) during the assessment period. ",{"type":576,"attrs":610,"content":611},{"textAlign":49},[612,614,620],{"text":613,"type":581},"Benchmark analyst Spencer Ingall believes the small rally in nickel prices was a result of ",{"text":615,"type":581,"marks":616},"fears",[617],{"type":586,"attrs":618},{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/nickel-miners-struggle-amid-falling-prices-supply-glut",{"text":621,"type":581}," the sanctions on Russian material will affect trade volumes, but prices, he said, are likely to return to levels before the sanctions were announced.",{"type":576,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":581},"“The sanction will affect new material originating from Russia but it is unlikely to have any material impact on volumes and so LME price will likely correct itself this week to levels seen before the announcement,” said Ingall.",{"type":576,"attrs":628,"content":629},{"textAlign":49},[630,632,638],{"text":631,"type":581},"While Russia accounted for only 4% of the global refined nickel supply in 2023, according to the ",{"text":633,"type":581,"marks":634},"Benchmark Nickel Forecast",[635],{"type":586,"attrs":636},{"href":637,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/forecasts/nickel/reports/",{"text":639,"type":581},", it makes up a significant percentage of the volume on the LME.",{"type":576,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":581},"“If Russian product already on the exchange got sanctioned then the volume of LME nickel available would have changed massively, but this isn’t the case,” said Ingall.",{"type":576,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":581},"Since the LME began publicly reporting on country of origin stock data, the share of nickel volumes from Russian origin has increased from 16% in January 2023 to 36% in March 2024, sitting on par with volumes from Australian origin nickel, accounting for 25,000 tonnes of nickel. ",{"type":576,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":581},"The sanctions are also applicable to aluminium and copper produced in Russia.",{"type":576,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":581},"Meanwhile, nickel MHP CIF Asia Payables to LME nickel increased by 1.3% in the first half of April, trading at 80% to drive up the aggregate MHP price, despite stable cobalt prices. Benchmark expects MHP payables are likely to return to mid 70% levels in late April or early May as the second quarter restocking phase comes to an end.",{"type":576,"attrs":661,"content":662},{"textAlign":49},[663,665,671],{"text":664,"type":581},"Prices increased 2.1% and 2.0% for ",{"text":666,"type":581,"marks":667},"Benchmark’s recently launched",[668],{"type":586,"attrs":669},{"href":670,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/benchmark-launches-sustainable-nickel-prices",{"text":672,"type":581}," sustainable nickel metal and sustainable nickel sulphate to $17,921 per tonne and $19,194 a tonne respectively. The increases are attributed to the sharp increase in the LME Class I nickel price. ",{"type":674,"attrs":675,"content":677},"heading",{"level":676,"textAlign":49},4,[678],{"text":679,"type":581},"Chinese nickel sulphate prices buck the trend",{"type":576,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":581},"Chinese nickel sulphate prices reported a decline for the first time this year as producers finished restocking inventories and downstream market participants have opted for a wait-and-watch approach for signs of improvement in demand.",{"type":576,"attrs":686,"content":687},{"textAlign":49},[688,690,696],{"text":689,"type":581},"Chinese nickel sulphate prices declined 0.4% to RMB 30,250 ($4,175) per tonne in the week ended April 16, according to the ",{"text":691,"type":581,"marks":692},"Benchmark Nickel Price Assessment",[693],{"type":586,"attrs":694},{"href":695,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/price-assessments/nickel/reports/",{"text":697,"type":581},".",{"type":576,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":581},"The latest decline in Chinese nickel sulphate prices and an increase in nickel MHP CIF Asia has further widened the gap in prices between the two, making the former the cheapest option for Asian (ex-China) cell makers to acquire nickel sulphate. ","Prices of all nickel chemicals, except Chinese nickel sulphate, rose briefly in mid April in response to sanctions by the US and the UK banning deliveries of Russian metal supplies for Russia’s invasion of Ukraine. The sanctions, which came into effect over the weekend, halted deliveries of any new Russian supplies of nickel to the […]",[705],{"slug":564,"name":565,"content":706},{"job_title":567,"image":707,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"adeba531-fb00-4899-b61b-4269725758c2\", \"id\": \"\"}-->","article",[711,714],{"slug":712,"name":713},"critical-minerals","Critical Minerals",{"slug":583,"name":150},"private",{"id":49,"alt":717,"name":717,"focus":717,"title":717,"source":717,"filename":718,"copyright":717,"fieldtype":719,"meta_data":720,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/609b8999df/bm-price-update-4.png","asset",{"alt":717,"title":717,"source":717,"copyright":717},"Apr 18, 2024","18th April 2024",[],[],1783682672675]