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Nickel at LME Eases from 16 Month Peak

Metal News - Published on Tue, 13 Aug 2019

Image Source: Nickel at LME Eases from 16 Month Peak
Reuters reported that London nickel prices eased on Friday, slipping from a 16 month high struck in the previous session, after Indonesia's nickel miners association said it had urged the government not to bring forward a ban on mineral ore exports. Three-month nickel on the London Metal Exchange fell as much as 1.5%, and was down 0.8% at USD 15,755 a tonne. The most-traded October nickel contract on the Shanghai Futures Exchange closed up 5.2% at CNY 126,290

The association's Secretary General Ms Meidy Katrin Lengkey said the group had indirect knowledge of a plan to revise the date of enforcement of the ban but told Jakarta to be consistent with the 2022 deadline because people have invested money to build smelters.

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Posted By : Rabi Wangkhem on Tue, 13 Aug 2019
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