Metal Mayhem: EV, steel industry to take hit over soaring nickel prices

New Delhi, March 8 Production of batteries for electric vehicles as well as stainless steel, paint and alloy-based industries are expected to take a hit, as prices of a key raw material nickel have zoomed over 100 per cent in the past few days.

The Russia-Ukraine crisis has triggered the shortage which in turn led to a massive spike in prices.

On Tuesday, nickel prices surged as much as 111 per cent to trade briefly above $100,000 a tonne. The exponential rise in price led London Metal Exchange

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