London Metal Exchange base metals prices were in a consolidation tone on the morning of Monday June 28, after a pick-up during the latter part of last week.
Nickel's price was down a slight 0.7% to $18,390 per tonne at 9am from $18,523 per tonne on Friday at the close. The metal was the best performer last week, rising by 6% from last week Monday's closing price of $17,450 per tonne. Nickel's rise followed reports that Indonesia plans to restrict investment in nickel pig iron and ferro-nickel smelters. "Instead, it wants to encourage the production of nickel sulphate plants that would feed the EV battery sector," ANZ commodity research analysts Brian Martin and Daniel Hynes...