Bloomberg reported that after China retained its 7.5-percent economic growth target, nickel rose to a nine-month high.
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Reuters reported that Patrick Buffet, chairman and chief executive of France's Eramet SA (EPA:ERA), believes Indonesia's export ban is a positive development and will "eventually support nickel prices."
Reuters reported that Indonesia's ban on unprocessed ore exports is set to send the value of its mining exports as low as $7 billion this year, from $11 to $12 billion in 2013. Prior to the ban, the country was the world's top exporter of nickel.
Metal Bulletin reported that nickel on the London Metal Exchange (LME) rose to a three-and-a-half-week high yesterday.
Bloomberg reported that increasing concern that Indonesia will "play hardball" with its ban on unprocessed ore exports has pushed London nickel prices to their highest level in two weeks.
Quoting a report from Roskill, MINING.com notes that China's government may attempt to mitigate the effects of Indonesia's recent ban on unprocessed nickel ore exports by trying to get exemptions for some of its companies.
The Economic Times reported that Deutsche Bank AG (NYSE:DB) has reduced its 2014 nickel forecast to $15,000 per tonne, an 11-percent decrease from its previous estimate. The firm also lowered its 2015 forecast by 3.5 percent, to $15,250.
Reuters reported that Indonesia's ban on the export of raw minerals could harm Chinese factories manufacturing stainless steel; however, it is likely to help struggling nickel miners.
Reuters reported that, hoping to lessen the impact of Indonesia's upcoming ban on unprocessed mineral ore exports, the country's mining ministry has proposed a regulation that would permit the shipment of some mineral ore concentrates until 2017.
In a Q&A session published today, Thomas Hohne, nickel analyst at Roskill, addresses some of the key questions related to Indonesia's ban on unprocessed mineral ore exports, set to come into place in January.