This allows New Caledonian producers to improve their profitability…
The war in Ukraine is having a clear impact on the Caledonian economy. Specialists believe that there will be disruptions in the supply of nickel from Russia. Russia is in fact the world’s second largest producer of nickel thanks to Norilsk. The war comes at a time when world stocks have fallen significantly in recent years. Five years ago, during the nickel crisis, the metal was worth 9,000 US dollars a ton, today it is worth 30,000. It has been more than a decade since nickel prices have been this high.
This will last
This is likely to continue, because the war and its consequences will be long-lasting. Another phenomenon is driving up prices. The transport of industrial metals is becoming more and more difficult. The major shipping companies have announced that half of the world’s container ships will no longer go to Russia. We have also just learned that one of the Ukrainian ferronickel factories has stopped its deliveries. These very high prices allow the Caledonian plants to get closer to, or even reach, profitability.
