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Nickel Rises Most in Three Weeks as Indonesia Adheres to Ore Ban

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Nickel prices rose the most in three weeks after Indonesia said a ban on exports of unprocessed ore remains in place, reinforcing concern that global demand is set to exceed supplies.

Today, Bambang Adi Winarso, senior adviser to the coordinating minister for economic affairs, affirmed the policy by Indonesia, the world’s largest producer of mined nickel ore. Residential-construction permits in the U.S. climbed in October to a six-year high, the government said. Copper, aluminum, zinc, tin and lead prices rose.