Nickel Climbs to 14-Month High on Supply Concerns
This article is for subscribers only.
Nickel advanced to the highest in more than a year in London amid mounting supply concerns as tensions escalated between Ukraine and Russia, the second-largest producer of the refined metal.
The government in Kiev said it’s resuming operations to oust militants from eastern cities, while Russia pledged to defend its citizens in the neighboring country. White House spokesman Jay Carney said a decision to impose additional penalties on Russia may be made in the “coming days.” Demand was already expected to exceed supply after Indonesia, the biggest source of the metal from mines, banned ore exports.