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The base metal prices on the London Metal Exchange (LME) closed higher on Monday, with nickel prices climbing to a three-month high amid concern that ore shipments from the Philippines will drop.
The Philippine House's natural resources committee has approved a bill in August seeking to ban exports of unprocessed mineral ores.
The country accounts for 61 percent of nickel ore supplied this year to China, the world's biggest metals consumer, according to Morgan Stanley.
The three-month unofficial nickel price increased 372.5 U.S. dollars, or 1.91 percent, to 19,885 U.S. dollars a tonne.
The three-month unofficial copper price increased 95.5 U.S. dollars, or 1.37 percent, to 7,042.5 U.S. dollars per tonne.
The three-month unofficial aluminium price increased 12 U.S. dollars, or 0.57 percent, to 2,111 U.S. dollars a tonne.
The three-month unofficial lead price increased 8 U.S. dollars, or 0.36 percent, to 2,216 U.S. dollars a tonne.
The three-month unofficial zinc price increased 17 U.S. dollars, or 0.71 percent, to 2,410 U.S. dollars a tonne.
The three-month unofficial tin price increased 62.5 U.S. dollars, or 0.29 percent, to 21,450 U.S. dollars a tonne.
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- [Editor:sunzhichao]
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