Nickel Extends Drop Amid Lack of Detail on Indonesia Output Cuts

Nickel fell further from a 19-month high after Indonesia didn’t provide details on its pledge for output cuts, which had earlier fueled a sharp rally.

Three-month futures declined as much as 5.9% on the London Metal Exchange. Prices had surged as high as $18,800 a ton on Wednesday — the highest since June 2024 — as investors bet on risks to output in top supplier Indonesia, but the metal ended the day 3.4% lower.