Sino-Japan Financial Times: Nickel Price Soars!
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On Monday and Tuesday, the nickel contract price at London Metal Exchange (LME) has sharply jumped for two consecutive days, staging an unprecedented "short." On March 7th, nickel futures price rushed to a record high to 90.13% and $55,000/ton, and at closing, down to $50,300/ton, up 73.93%. The futures' one-day gain is historically rare. The next day, the climb continued and broke through $60,000, $70,000, $80,000, $90,000, and $100,000. LME then suspended nickel trading, and nickel closed at $80,000.