Market price for a metric ton of nickel this month as the metal continues a steep yearlong climb. The September number represents an increase of more than $6,000 a ton since early June. The surge is occurring primarily because speculators believe nickel will be in tighter supply as automakers increase output of electric vehicles. Nickel is required in the production of lithium ion EV batteries, a component with growing worldwide volume plans. Indonesia, the world's largest source of nickel ore, has been beset by mining problems this summer, including floods. But the Indonesian government further spooked the market early this month when it said it will move forward with a ban on exporting the ore as part of its bid to spur local processing.
Number to Watch: $17,743
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