Nickel futures surged to $18,010 per tonne, hitting a more than...

Nickel futures surged to $18,010 per tonne, hitting a more than 3-month high as base metals rallied on the back of China’s most aggressive stimulus since the pandemic, boosting the demand outlook. China’s central bank announced plans to lower borrowing costs, inject more funds into the economy, and ease mortgage repayment burdens, including reducing medium-term loan costs for banks. Meanwhile, the U.S. Department of Labor raised concerns about forced labor in Indonesia’s nickel industry, marking the first time Indonesian nickel has been added to its exploitation list. In response, Indonesia committed to tightening supervision of its commodities sector.