Nickel Rises as China Bought Before Indonesia Import Ban

Nickel capped a third weekly gain, the longest rally this year, on signs that China, the largest consumer, boosted purchases from Indonesia before last month’s ban on shipments of unprocessed ores.

China’s imports from Indonesia jumped to 6.12 million metric tons in January from 3.99 million tons a year earlier, the General Administration of Customs said today in Beijing. Chinese government agencies and domestic producers met Feb. 13 to consider ways to counter the impact of the Indonesian ban imposed on Jan. 12, which is choking off supply.