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: Week ends with a shallow rebound
Three markets to watch next week (24.08.2026)
⚪Silver tests $70 and breaks key resistance
Morning wrap: Bitcoin surges to $75k, Wall Street tries to stabilize