At present, of the 17,244 tonnes of on-warrant nickel in LME warehouses in Rotterdam, briquette accounts for more than 92%.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

Glencore's metals output showed mixed progress on the year in the third quarter of 2022.

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Its revenues during this period slipped by 15pc to $268.5mn in line with the lower sales, although its average selling price climbed to $39.21/wmt, up by 26.1pc from $31.10/wmt a year earlier.

US carmaker Tesla has signed contracts worth about $5-billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia.

Production guidance for ferro-chrome was stable at 1.47mn-1.53mn t, slightly higher than production in 2021, which was at 1.468mn t.

TSX-V-listed Canada Nickel Company has more than doubled the measured and indicated mineral resources of its Crawford nickel sulphide project, in Ontario, to 1.43-billion tonnes grading 0.24% nickel.