It’s the biggest gain that is being seen in the nickel price in just one week that the commodity has surged over 10% to $20000+. In fact the commodity has been rising over 40% year till date while it still has the potential to remain elevated in the near term. Despite prices have reached so much high we believe it still has the potential to move higher as the supply related issues are continuously mounting in the market. News: Nickel headed for the biggest weekly climb since 2010 in London after Vale SA had to halt activity at a plant, adding to concern about curbed supply following leading miner Indonesia’s ban on ore exports in January. Operations are expected to resume “shortly” at the plant, formerly known as Goro, in the South Pacific island nation of New Caledonia after a spill of an acid-containing solution.
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