Nickel prices rose for the fourth consecutive trading day. Chinese producers may coordinate cuts to Indonesian production, boosting market expectations for tighter supply. Nickel prices on the London Metal Exchange rose 2% at one point, approaching $16,000 per ton, continuing the gains since hitting a nine-month low last Thursday. According to reports, executives from a number of major Chinese nickel producers are planning to hold a meeting this week to discuss cutting production in the Indonesian business, including factories that produce key raw materials for batteries. The relevant companies tried to agree on production cuts in August of this year, but were unsuccessful. “What people are really concerned about at the moment is the scale of production cuts,” said Gao Yin, an analyst at Shuohe Asset Management Co. “The number of production cuts circulating in the market is quite impressive.”

Nickel prices rose for the fourth consecutive trading day. Chinese producers may coordinate cuts to Indonesian production, boosting market expectations for tighter supply. Nickel prices on the London Metal Exchange rose 2% at one point, approaching $16,000 per ton, continuing the gains since hitting a nine-month low last Thursday. According to reports, executives from a number of major Chinese nickel producers are planning to hold a meeting this week to discuss cutting production in the Indonesian business, including factories that produce key raw materials for batteries. The relevant companies tried to agree on production cuts in August of this year, but were unsuccessful. “What people are really concerned about at the moment is the scale of production cuts,” said Gao Yin, an analyst at Shuohe Asset Management Co. “The number of production cuts circulating in the market is quite impressive.”