Nickel prices climbed during the Asian trading session, continuing the gains of the previous trading day. The three-month nickel contract on the London Metal Exchange rose 0.2% to $14,670.00 per tonne. Financial analysts at Sukton said in a report that the metal's price is likely to rise after reports suggest that Indonesia, the world's largest producer of nickel, plans to cut production to 250 million tons next year to support the price. They expect the current momentum to pick up further, and the next target level could be $14,700 per ton.

Nickel prices climbed during the Asian trading session, continuing the gains of the previous trading day. The three-month nickel contract on the London Metal Exchange rose 0.2% to $14,670.00 per tonne. Financial analysts at Sukton said in a report that the metal's price is likely to rise after reports suggest that Indonesia, the world's largest producer of nickel, plans to cut production to 250 million tons next year to support the price. They expect the current momentum to pick up further, and the next target level could be $14,700 per ton.