Nornickel is not yet considering moving to new markets from its traditional ones but does have plans in place.

Chinese producers of nickel sulfate used in EV batteries stopped offering product due to the lack of price visibility.

The LME said the market had become disorderly, with prices not reflecting the physical market.

Energy Secretary Jennifer Granholm and other officials speaking at this week's CERAWeek conference said the need to domestically produce more metals is rising.

Country is China's biggest nickel ore supplier.

Applications for the share purchase had far exceeded the company's target to about A$57 million.

Electric vehicles are in short supply in showrooms that have struggled to rebuild inventory of vehicles for more than a year.

Sanctions placed on Russian nickel will cause EV manufacturing prices to increase further, threatening adoption and decarbonization, says GlobalData.