Nickel jumps as Indonesia expedites ore
export ban

On Monday, Nickel prices in Shanghai hit a record high, while they jumped to to a five-year high in London, after top producer Indonesia announced it would restrict ore exports from 2020.


The benchmark three-month contract rose as much as 3.2% to $18,470 a tonne by 0124 GMT, its highest since September 2014, while Shanghai nickel surged to its maximum daily limit of 6% to a record 136,960 yuan ($19,309.72) a tonne.


Indonesia, the world’s biggest supplier of nickel ore, on Friday announced that it would move forward a ban to export mineral ores by two years from an original schedule of 2022.


London nickel has leaped 72% so far this year, while most other base metals were declining.

 

Updated On 03-Sep-2019

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Import data

  • 249050 kgs. of 'Copper Wire' imported at JNPT port in May, 2016.
  • 2718 kgs. of 'Brass Strip' imported at GH GURGAON ICD port in September, 2016.

Export data

  • 1646 kgs. of 'Brass Rod' exported from MUNDRA port in March, 2016.
  • 15040 kgs. of 'Brass Artware' exported from KOLKATA SEA port in June, 2016.

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