Nickel Prices Skyrocket Amid Unrest in New Caledonia

Global nickel prices have surged following a wave of deadly violence in New Caledonia, a key nickel-producing French Pacific territory. The unrest has disrupted nickel supply chains, causing concern among manufacturers and investors worldwide. Nickel, a critical raw material for electric vehicle batteries, coins, and armor plating, has seen its value increase significantly. The European Union has designated nickel as a critical raw material, highlighting its importance to the global economy. The situation in New Caledonia underscores the delicate balance between geopolitical stability and commodity markets.