Nickel, as a commodity, has had it's ups and downs. Currently nearing a 15 year high.
This is obviously a trading play on the Russian invasion of Ukraine.
Russia only holds approximately 10% of nickel reserves.
Historically, the lowest nickel price is usually about $8 per pound, or $17,600 per tonne, which is the break even point for most mining operations.
A tonne is a designation for a long ton. A long ton is 2200 pounds, and a ton is 2000 pounds.
You can read more about the trading suspension of March 2022 here: