The metal's price hit a five-year high of $18,785. That's bad news for China, one of the world's biggest buyers of nickel.
Nickel prices surged to a five-year high on Monday after Indonesia said it would ban exports of nickel ore from January 1, 2020. Indonesia's move comes two years earlier than expected, as Jakarta aims to build up local resources. The southeast Asian country is the second-largest producer of nickel ore in the world, behind the Philippines. Watch nickel trade live.
Nickel prices surged to a five-year high on Monday after Indonesia said it would ban exports of nickel ore from January 1, 2020. Indonesia's move comes two years earlier than expected, as Jakarta aims to build up local resources. The southeast Asian country is the second-largest producer of nickel ore in the world, behind the Philippines. Watch nickel trade live.
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