Chinese nickel futures extended gains and hit a three-month high on Wednesday amid growing tensions in the nickel ore market, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded October 2023 contract for nickel closed at CNY 171,860/tonne ($23,518/t), up 0.03% on-day and 3.7% on-week to a 3-month high.
Indonesia is the world’s largest nickel ore producer. However, investigations into corrupt practices from mid-August have delayed the issuing…
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