Nickel extended its two-year high on Wednesday with another strong performance that appeared linked to projected demand for electric vehicles.
On the London Metal Exchange, prices for three-month nickel rose 3.5% to 12,862.5 - a high not seen since May 2015. On Tuesday, the metal rose by 5.3%.
The metal, whose sulphate is used in powerful lithium-ion batteries that drive electric vehicles, was expected to see increased demand over the coming years.
Saad Rahim, chief economist at commodities trader Trafigura said he expected demand for nickel sulphate to increase by half to 3 million tons by 2030, Bloomberg reported.