Mumbai, Jan. 7 -- LME Nickel hit highest level in 19 months in last session. Three-month LME Nickel futures spiked around 10% to approach near $19000 per tonne mark as worries over output in top supplier Indonesia dominated sentiments. Indonesia's nickel smelter association FINI is forecasting nickel ore demand from domestic smelters next year to reach around 340 million to 350 million metric tonnes, media reports noted. Indonesia has announced plans to slash mineral production quotas. MCX Nickel futures followed this action today and are currently trading at Rs 1880 per kg, up 5.77% on the day. The counter zoomed around 11% in last session.
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