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Nickel has risen to its highest level in nine months on signs that Indonesian export ban on unprocessed mineral ore is starting to bite and affect Chinese stockpiles.

Nickel, which is used to make stainless steel, is the best performing base metal on the London Metal Exchange this year. It has advanced by more than 8 per cent, outpacing zinc (up 2.1 per cent), copper (down 4.5 per cent) and aluminium (off 1.9 per cent), helped by the new export rules in Indonesia, the world’s biggest supplier of nickel ore.

Read more at: http://www.ft.com/intl/cms/s/0/3166ebfa-a493-11e3-9313-00144feab7de.html?siteedition=intl#axzz2vAQ0fMFJ