| Nickel prices are on a tear. Since January 12, when the Indonesian government surprised nickel market participants by going through with its plan to ban unprocessed ore exports, the metal has risen precipitously.
In terms of just how precipitously, the numbers speak for themselves. Though the metal’s gains were modest at first, by mid-March, London Metal Exchange (LME) nickel for three-month delivery had reached an 11-month high of $16,230 per metric ton (MT). As one Singapore-based metal trader told the news outlet, “[i]t’s simple: the ban stays in place, the nickel price goes up further. Prices above $20,000 are perfectly plausible.”..............................................Full Article: Source
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