Significant increase in Class 1 Nickel volume being traded

Düsseldorf, 9 July 2024 — Class 1 Nickel trading volume tripled with 5,955 mt being confirmed via Metalshub. The total value of the Nickel traded reached US$107.2 million.

Press Releases July 09, 2024

Unfortunately, only 1 mt of Low Carbon Ni Class 1 was offered and confirmed stating a Carbon footprint below 20mt C02 / t Ni. The remaining volume was either above 20 mt of C02 / t Ni or did not have a PCF attached to it. It is obvious that producers / suppliers of Nickel still struggle to identify their carbon footprint or are reluctant to share it with their customers.

Month	Traded Nickel Class 1 Volume (mt*)	Traded Nickel Class 1 Value (mUSD)	Low Carbon Ni offered (mt*)	Traded Low Carbon Ni (mt*)
January	4,399	81.7	0	0
February	2,375	43.0	4	4
March	2,126	38.2	27	0
April	1,805	32.9	171	0
May	1,991	35.6	216	144
June	5,955	107.2	1	1

Table 1: Traded volume of Class 1 Nickel on Metalshub.
*mt: metric tons

Metalshub aims to introduce a Low Carbon Class 1 Nickel Premium Index (European Duty Paid) when a sufficient number of transactions is reached. The London Metal Exchange and Metalshub have determined that the Nickel Institute’s GHG Emissions Guidance (leveraging GHG Protocol and ISO 14044) is the appropriate initial method for assessing carbon footprint, with 20 mt of CO2 or less as the suitable low-carbon threshold.

About Metalshub

Metalshub is a leading software provider for the raw materials industry, unlocking supply chain value for buyers and sellers of metals and minerals. By leveraging advanced technology and market expertise, Metalshub provides software solutions for buyers and sellers to connect, negotiate, and close transactions. With its innovative solutions, Metalshub empowers businesses to optimise supply chains, make informed decisions, and drive growth in the digital era.

Contact

Dr Frank Jackel, Co-Founder and Managing Director