Market caution over developments surrounding the trade spat between the United States and China left metals prices on the Shanghai Futures Exchange mixed, with nickel being the best-performing contract during morning trading on Thursday August 29 amid supply uncertainties and strong speculative sentiment.
"Supply-side uncertainties continue to support nickel prices, with markets awaiting clarity over Indonesia's export policy following reports that the country will accelerate its proposed ban on the export of unprocessed nickel ore, which is currently scheduled to take effect in 2022," Fastmarkets analyst James Moore said in his Nickel Today report. Indonesian president Joko Widodo is expected to make a final decision shortly on whether to bring forward the export ban,...