A new hotspot in the world.  The price of a staple for electricians has risen

New Caledonia, located in the western Pacific Ocean, became a French colony in 1853; Since 1946, the overseas territory has belonged to France. However, since 1998, it has also become a French “unique community” with broad autonomy. this A territory with an area slightly larger than a province. Łódź has an impact on the global production of electric vehicles. According to April data from the Nasdaq, Indonesia is the largest producer, ahead of the Philippines. Russia ranks fourth.

Last year, the South Pacific archipelago was the third-largest producer of nickel, the metal needed to produce batteries for “electricians.” The country has witnessed violent protests in recent days, leaving at least six people dead and several hundred injured.

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According to Thursday’s data, the value of losses and destruction caused by the riots amounted to 200 million euros, and according to the president of the New Caledonia Chamber of Commerce, David Gwen, between 80 and 90 percent were destroyed. Commercial facilities, such as warehouses, shops and wholesalers.

The riots broke out while the French parliament was considering changes to the voting system. The planned constitutional reform would extend the right to vote in provincial elections, a key election in New Caledonia, to include voters who have lived there for at least 10 years. The independence movement in New Caledonia opposes these changes, fearing that the indigenous people – the Kanaks – will lose their influence on voting results as a result.

France accuses the Turkish and Azerbaijani intelligence services of causing the riots. Therefore, several thousand French soldiers and military police officers will arrive in the Pacific.

Dr. Aleksandar Olić from defence24.pl points out that the possible announcement of an independence referendum in New Caledonia is the best solution for China. France has military bases in the archipelago.

Nickel prices rise

The protests in question disrupted production at the French mining and metals company, which is currently operating at minimal capacity, Bloomberg reported.

Nickel futures rose as much as 5.7%.“, the largest intraday increase on the London Metal Exchange since April 15.” On Friday morning, the price reached approximately $20.9 thousand per ton. Prices for other metals – aluminum and copper – also rose.

– The incident in New Caledonia is causing some turmoil in the nickel market, which also leads to further price increases, explained Gao Yin, an analyst at Horizon Insights, in an interview with Bloomberg.

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