Nickel extended gains for a third day after Indonesia confirmed it will tighten control over some of the country’s biggest commodities exports, including some forms of the metal.
Copper rods at a wholesale metal market in Mumbai, India, on Thursday, Jan 8, 2026. The race for artificial intelligence and surging defense spending are set to intensify a projected shortage of copper as producers struggle to expand, according to a new study by S&P Global. Photographer: Dhiraj Singh/Bloomberg
Nickel prices climbed following a report of further output cuts in Indonesia, and as the top producer of the metal took steps to control its commodities exports.
Copper extended its retreat from a record-high close as accelerating US inflation reduced the chance of rate cuts and a stronger dollar make the metal more expensive for many buyers.
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