Nickel Climbs to Three-Week High on Indonesia’s Ore Ban
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Nickel rose in London, capping the biggest three-session rally since August, on concern that global supplies will tighten during a ban on exports from Indonesia, the world’s biggest producer of the mined ore.
Global production of nickel may trail demand next year because of the ban, which took effect Jan. 12, Macquarie Group said in a report today. Prices fell during the past three years amid ample supplies. Nickel has rallied 3.2 percent this month, the most among the six main metals traded on the London Metal Exchange.