Violence in New Caledonia Drives Nickel Prices to New Highs

The French Pacific territory's unrest disrupts a key global supply chain, affecting electric vehicle and renewable energy sectors.

New Caledonia holds 20-30% of the world's nickel reserves, crucial for EV batteries and solar panels.
Protests erupted after French lawmakers allowed long-term residents to vote, angering pro-independence Kanaks.
France declared a state of emergency, deploying 1,000 troops to regain control in Nouméa.
Global nickel prices surged from $18,510 to $21,275 per metric ton amid supply concerns.
The unrest highlights the fragile balance between local independence movements and global resource demands.