Nickel $5.50lb - $6.70lb rise in two weeks., page-40

METALS-Copper hits 2-yr low on trade war; nickel touches 4-yr high

Shanghai’s nickel prices surged to 119,360 yuan a tonne, their highest since May 2015, while London nickel rose as much as 2.5% to $14,805 a tonne, amid renewed worries of an ore export ban from major nickel producer Indonesia.

“Some people said Indonesian may advance the ore ban from 2022 to this year. I’m not sure how true it is, but some investors will gamble on this to buy nickel,” said a nickel analyst.

Indonesia, which is a major source of nickel ore used mainly in the stainless steel industry, had said it would restrict exports of unprocessed ore from 2022.