Nickel Gains as Indonesia Moves to Slash Output at Biggest Mine

Nickel extended gains after Indonesia signaled a sharp cut to output this year, curbing supply from the world’s biggest mine in a bid to revive prices.

The metal rose for a fourth day to its highest in almost two weeks. PT Weda Bay Nickel has been assigned a quota of just 12 million tons of ore this year, down from 42 million tons in 2025, according to people familiar with the matter.