Nickel Hits Two-Year High at $19,470

Nickel prices on LME surged 2.3% to $19,445/mt, peaking at $19,470, the highest since June 2024.
Indonesia set nickel ore production quota (RKAB) at 260‑270 million tonnes, below FINI’s estimated demand of 340‑350 million tonnes.
The supply‑demand gap fuels market concerns, pushing nickel to two‑year highs and potentially tightening metal availability for producers.