ind12 Oct 2016 21:13
Vale Indonesia said that easing the ban risked flooding the overseas market and undermining prices. The proposal had also irked some Chinese investors who had spent billions of dollars on smelters in Indonesia, according to Jonatan Handojo, vice chairman of the refining industry association.
Nickel prices advanced as much as 1.9 percent to $10,620 a ton on the London Metal Exchange on Wednesday, the highest in more than a week, and traded at $10,615 by 3:23 p.m. local time. The metal fell to a low of $7,550 in February, the cheapest in more than a decade.