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Shares of "Norilsk Nickel " renewed their all-time high

Russia / Non-ferrous metallurgy

Nickel prices are growing on the world market - the main product of the mining and metallurgical company.

Shares of "Norilsk Nickel " renewed their all-time high

Shares of "Norilsk Nickel " in the course of trading on the Moscow Stock Exchange rose by 4.84%, to 26,234 rubles. per paper, according to the marketplace data.

The company's quotes exceeded 26 thousand rubles and renewed their maximum amid rising nickel prices.

"Nornickel " is a producer of platinum group metals. Production units are located in the Norilsk industrial region, on the Kola Peninsula, in Transbaikalia, in Finland and South Africa.

Nickel prices continue to rally, with the London Metal Exchange benchmark exceeding $ 18,000 per tonne for the first time since September 2019 as prolonged turmoil in New Caledonia, the world's fourth-largest metal producer, heightened supply concerns.

The decline in nickel stocks in warehouses controlled by the Shanghai Stock Exchange, which more than halved in 2020, has also increased pressure on prices.

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