Nickel Gains on Indonesia Supply Curbs, Sulphur Shortage

MINERAL COMMODITY - BEIJING. Nickel prices gained on Monday, supported by renewed fears of supply cuts triggered by lower ore quotas in top producer Indonesia and an acute shortage of sulphur stemming from the prolonged Iran war.

The most-traded nickel contract on the Shanghai Futures Exchange rose 3.53% to 150,000 yuan ($21,965.79) per metric ton as of 0207 GMT, after hitting its highest since January 26 at 150,280 yuan earlier in the session.