Nickel settled up 2.31% at 851.4 as Indonesia came closer to implementing an export ban on the industrial metal. The Southeast Asian country is set to make the ban effective Sunday, according to government officials. The move by one of the world's biggest exporters of nickel ore is part of a wider push to retain more of the revenues generated from its vast mineral wealth. China is the world's largest nickel consumer, with its vast infrastructure projects and bustling construction sector driving its demand for steel. China in the past year has boosted imports of nickel in anticipation of a ban on Indonesian exports. US December non-farm employment data increased by 74,000, much lower than the 196,000 expected and the 241,000 in November, and the lowest growth in three years, and half of employment is part-time job. US unemployment rate dropped to 6.7%, compared to 7% in November. US Labor Department attributed this to a seasonal factor. Indonesia, among the world's biggest suppliers of natural resources, halted all mineral ore exports on Sunday to try to promote domestic processing, but threatening the country's nickel and bauxite industries worth more than $2 billion in annual shipments. Halting exports of nickel ore could spark the biggest shake-up in the global nickel industry in more than five years, with Chinese stainless steel factories that make everything from kitchenware to cars and buildings set to hurt the most. Now Nickel is getting support at 837.5 and below same could see a test of 823.6 level, And resistance is now likely to be seen at 858.9, a move above could see prices testing 866.4.

Trading Ideas:

Nickel trading range for the day is 823.6-866.4.

Nickel settled up as Indonesia came closer to implementing an export ban on the industrial metal.

China in the past year has boosted imports of nickel in anticipation of a ban on Indonesian exports.

In Europe, economic data from the UK were poor, with November industrial, manufacturing and construction output all lagging forecasts.