MSC Napoli update
Concerns that the grounding of the MSC Napoli had driven up the price of nickel on global markets have now been proven false. The container vessel was in danger of sinking two weeks ago after her hull was damaged in a storm while sailing through the
Among the Napoli’s 2,200 containers was said to be over a thousand tonnes of nickel, an amount that initial reports stated was over twenty percent of the available world inventory. This news, coupled with the threat of a looming strike at a major Canadian mining operation, helped drive the price of nickel sharply up on the London Metals Exchange, to $38,300 US a tonne.
However it has now been reported that the
Meanwhile, the first containers from the