Nickel Posts Best Quarter in Nine Years
- Metal used in stainless steel and batteries up 34% for quarter
- Nickel is one of the few bright spots in industrial metals
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Nickel posted its best quarterly performance since 2010 as investors expect Indonesia’s year-end ban on exports of raw ore to tighten supply.
The metal used in stainless steel and batteries surged after Indonesia said on Sept. 2 that the ban on nickel ore exports will take effect Jan. 1, two years earlier than previously announced. That will remove as much as 350,000 tons of the metal from global supply, the International Nickel Study Group has said.