Nickel traded around $17,300 per tonne in late July, remaining near its highest level in over a month and up more than 5% over the month as supply concerns in Indonesia supported prices. Indonesian smelters operated by Tsingshan Holding Group, the world’s largest nickel producer, suspended some export loadings of mixed hydroxide precipitate and disrupted exports of other nickel products as authorities increased inspections over possible rare-earth content in shipments. The delays raised concerns over potential supply disruptions in the world’s largest nickel-producing country, although the government moved to resolve regulatory bottlenecks by coordinating with industry participants and government agencies. Additionally, expectations of tighter Indonesian production controls and higher sulfur costs continued to support prices.