Nickel Price Soars 10% in Biggest 3-Year Jump, Driven by Chinese Buyers

• Nickel prices surged over 10% in London, marking the biggest gain in more than three years, primarily due to increased interest from Chinese investors.
• The metal, crucial for batteries and stainless steel, has seen a 20% price increase on the London Metal Exchange in just two weeks, reaching $18,785 per ton.
• Despite an oversupply, growing production risks in Indonesia, the world's largest supplier, and significant investment inflow into China's domestic metals market are fueling the rally.
• This surge represents a major turnaround for nickel, which previously faced pressure from overproduction and lower-than-expected EV battery demand.
• Chinese investors played a crucial role, driving up prices of nickel, copper, and tin on both the London Metal Exchange and Shanghai Futures Exchange.

Why It Matters: Chinese investor interest and Indonesian supply risks have propelled nickel prices to a 3-year high.