- Nickel prices reach two-year highs after New Caledonia's government ordered Vale (VALE -0.4%) to suspend activity after a spill at a local site.
- Nickel surged 41% in London trading this year after leading global miner Indonesia barred exports of raw ores in January.
- With the nickel market already tightening on Indonesia and possible sanctions against Russia, the news adds to the general sense that the market is facing a supply shortage over the coming months, analysts say.
- ETFs: JJN, NINI