Could Russia’s war in Ukraine trigger a fresh recession across Europe?

Volatility is gripping the world’s commodity markets as Russia attacks Ukraine, with potentially wide-ranging ramifications for Ireland on everything from food prices to energy bills

Oil price inflation: the crisis in Ukraine has sent prices soaring. PIcture: Bloomberg

In the powerhouse financial centre that is the City of London, the London Metal Exchange (LME) generally runs well below the radar. But that all changed last week, when the LME was forced to suspend trade for all nickel contracts on Tuesday after prices for the hard metal spiked by 250 per cent to more than $100,000 a ton, twice its previous record.

Similarly to most commodities in which Russia is a major player, nickel ...