Global metal markets saw one of the most wild movements in history on Monday as LME Nickel spiked more than 60%. The metal added more than $10,000 to trade at a 15-year high above $40,000 a tonne mark. The global Nickel inventories are already low and traders fear that the ongoing war between Russia and Ukraine will hit the supplies heavily in near term as Russia is one of the worlds biggest suppliers of the metal. MCX Nickel futures moved in tandem with this rally and ended at Rs 3740 per kg, up 67% on the day.
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