LME nickel price surges on Aug 5
The nickel price on the London Metal Exchange (LME) surged by more than US$400/ton yesterday (August 5th). The highest in intraday sessions reached nearly US$15,000/ton.
It was understood that the reasons for the surged nickel price included the concerns of supply caused by the sudden earthquake with a magnitude of 6.9 last Friday (August 2nd) in Indonesia and the rumors that the Indonesian Energy and Minerals Resources minister has signed an order to ban the export activities of raw ore in 2022.
