The three-month nickel price on the London Metal Exchange increased during morning trading on Tuesday October 29, with news of Indonesia's imposition of a ban on exporting raw ore bolstering its price action.
Although the news of the ban did little to boost price action on Monday, nickel futures were recently trading 1.1% higher at $16,735 per tonne. Correspondingly, nickel's traded volumes were high over the morning, with just under 4,400 lots exchanged as of 9:15am London time. Yet nickel's forward spreads remain tight on the LME...