LME nickel hits two-year high on Indonesia supply tightening
Nickel prices on London Metal Exchange (LME) hit a 2- year high, touching $20,000/t amid recent mining quota cuts and the revised HPM pricing mechanism which has tightened ore availability. Currently, nickel prices are hovering at $19,925/t, up 2.5% from last closing price at $19,940. LME warehouse stocks remained largely rangebound at 276,888 t.