Nickel prices are increasing. There are reports that Indonesia will cut production.

The price of nickel rose during the Asian trading session, continuing the previous day's upward trend. The three-month nickel contract on the London Metal Exchange increased by 0.2% to $14,670.00 per ton. Analysts at Sucden Financial stated in a report that after reports that the world's largest nickel producer, Indonesia, plans to cut production to 250 million tons next year to support prices, the price of the metal is likely to rise. They expect the current momentum to further strengthen, with the next target level possibly being $14,700 per ton.