Nickel Jumps as Unrest Cuts Output in No. 3 Miner New Caledonia [Yahoo! Finance]
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ERAMET SA UNSP/ADR (ERMAY)
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Source: Yahoo! Finance
Most Read from Bloomberg China Attempts to End Property Crisis With Broad Rescue Package US Inflation Data Was Accidentally Released 30 Minutes Early With a BlackRock CEO, $9 Trillion Vanguard Braces for Turbulence Putin and Xi Vow to Step Up Fight to Counter US ‘Containment' Jamie Dimon Sees ‘Lot of Inflationary Forces in Front of Us' The South Pacific archipelago, which was the world's third-biggest producer of the electric vehicle battery metal last year, has been wracked by violent protests this week due to a change in voting rules. That's disrupted output from French miner Eramet SA, which is running its local unit at minimum capacity. Nickel futures rose as much as 5.7%, the biggest intraday gain since April 15, on the London Metal Exchange. They were trading up 5.5% at $20,880 a ton as of 8:07 a.m. in the UK capital. Other base metals also rallied, with aluminum and copper adding 1.1%. New Caledonia's nickel output had already been slashed after prices plunged
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