Bloomberg BNA – Chicago Mayor Rahm Emanuel expanded his public health campaign against petroleum coke and coal, vowing to introduce an ordinance that will ban new storage and processing facilities, and prohibit any expansion of existing facilities.
Indonesia’s ban on mineral ore exports will cut nickel supplies while allowing Freeport-McMoRan Copper & Gold Inc. to keep exporting copper concentrates. Nickel and the rupiah rallied, while shares of Nickel Asia Corp., which accounts for about a third of Philippine output, climbed.
Nickel prices rose, heading for the biggest five-session gain since 2011, amid mounting concern that supplies will tighten after a ban on ore exports from Indonesia, the world’s top producer of the metal from mines.
Indonesia’s ban on the export of raw ores will cause nickel prices to rise this year as regulation limits increases in production of lower-grade nickel pig iron, Western Areas Ltd.’s Managing Director Dan Lougher said.
The ban on mineral-ore exports from Indonesia, the world’s biggest nickel producer, is poised to benefit neighboring miners in the Philippines, which are predicting an increase in sales. Shares of Nickel Asia Corp. advanced to the highest level since July.
The global nickel market may swing into a deficit next year as Indonesia’s ore export ban will constrain production of nickel pig iron, a lower-grade alternative to refined metal, said Macquarie Group Ltd.