Nickel Drops from 19-Month High as Metals Rally Pauses
Business
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Moneycontrol•07-01-2026, 09:45
Nickel Drops from 19-Month High as Metals Rally Pauses
- •Nickel retreated from its 19-month high, with three-month futures falling after a 10.5% spike on Tuesday.
- •The surge was driven by output risks in Indonesia and increased investment in China's domestic metals markets.
- •Indonesia plans to reduce nickel production and fine miners for forestry violations, potentially disrupting supply.
- •Other base metals like copper, aluminum, zinc, and lead also declined, following a strong start to 2026 for the sector.
- •Analysts attribute the drop to profit-taking after financial inflows, noting the nickel market remains in surplus.
Why It Matters: Nickel prices fell from a 19-month high as the broader metals rally took a breather.
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