Nickel Rises to 27-Month High Amid Vale Plant Suspension
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Nickel climbed for a sixth day to a 27-month high as Vale SA said operations remain halted at a plant in New Caledonia, further crimping supply that’s been hit by Indonesia’s ban on ore exports.
The contract for delivery in three months on the London Metal Exchange advanced as much as 3.4 percent to $21,625 a metric ton, the highest level since Feb. 10, 2012, and was at $21,200 at 4:05 p.m. in Tokyo. The metal jumped 53 percent this year, making it the best performer on the LME.