Nickel prices are up more than 4% today which takes the rally close to 50% for the year (!) as investors are afraid that Indonesia will introduce a proposed ban on exports starting from 2022. Nickel is increasingly used in batteries in automotive industry so a ban would obviously constrain global supplies. Nickel price is moving closer to 2018 high of $16580 with the next resistance at $18600.
Daily Summary: Fragile Ceasefire, Tense Markets, and Mixed Signals from the US
Chart of the day: GOLD loses all its steam amid war and policy uncertainty 🟡 (09.04.2026)
Morning wrap: Iran says US violated ceasefire (09.04.2026)
Daily Summary - Crude oil below $100 amid ceasefire