Nickel Proves It’s the Wildest Metal With Sudden $2,000 Spike

Nickel has long had a reputation for being among the most volatile industrial metals, but its biggest daily jump in a decade has left even the most seasoned traders astonished.

The metal surged as much as 13%, or almost $2,000 a ton, extending a rally over the past month triggered by speculation that top producer Indonesia might bring forward a ban on nickel ore exports. While the price eased after the nation’s mining ministry denied that any policy changes are imminent, it closed 7.2% higher in London to the highest in more than four years.