Tag: Indonesia mining quotas
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Nickel hits two-year high on tighter Indonesia supply outlook
LME nickel surged to an intraday high of $19,350/t, its strongest level since June 2024. Prices have gained nearly 10% since the Iran conflict began, supported by Indonesia’s tighter mining quotas and concerns over reduced raw material availability. Market participants said sentiment remains firm, with traders closely tracking Indonesian supply developments and policy direction.