Reuters reported that nickel prices touched their highest in more than a year as speculators continued a trend of buying futures on concerns about the potential for shortages following a ban on ore exports from Indonesia.

[Ferro-Alloys.com] Nickel prices have surged nearly seven per cent in the past month with fears over supplies from Russia adding to Indonesian curbs on shipments of unprocessed ores.

his week the low-grade nickel ores price tended weaker while the medium and high nickel ores still increased significantly. The market price was confusing and the trading volume was few.

Indonesia's ban on exporting unprocessed nickel and bauxite has been in force for more than two months, but the impact has yet to fully show up in Chinese imports.

Affected by the environmental inspection, the medium and low ferronickel production decreased

Since medium Jan. the nickel ores traders turned optimist for the later market conditions. In recent days, as the steel mills pulled up theferronickel price, stimulating the traders’ mood to a greater extent.