
Ford Motor Co (NYSE:F) told Benzinga on Thursday it is hedged against rocketing nickel prices for a few years, helped by supply contracts for the key material used in making electric vehicle batteries.
What Happened: Nickel prices touched record highs on Tuesday as contracts breached the $100,000 per ton mark for the first time amid a supply squeeze caused by the Russia-Ukraine war that forced trading for the prized battery material to be suspended at the London Metal Exchange until Friday.