0216 GMT - Iron ore rises in Asian trade. Global crude steel output fell in April, but less sharply than in March as the pace of contraction in China's steel output eased, Commonwealth Bank of Australia's Vivek Dhar says in a note. A steeper drop in March was likely due to policy-driven steel production cuts, the analyst says. However, steel-mill margins in China remain under pressure, reflecting headwinds facing the country's infrastructure and property construction activity, which account for a large part of China's steel consumption, he adds. The most-traded iron-ore contract on the Dalian Commodity Exchange is 0.7% higher at 798.00 yuan a metric ton. (megan.cheah@wsj.com)
Nickel Rises Amid Worries Over Indonesia Supply Cuts -- Market Talk
0133 GMT - Nickel rises in Asian trading, with the three-month contract on the London Metal Exchange 0.8% higher at $18,880 a ton. The metal has led gains among base metals, supported by improving investor risk appetite, ANZ Research analysts say in a note. Prices are also boosted by worries over further supply cuts in Indonesia. Meanwhile, Indonesian officials have announced plans to tighten controls over commodity exports, which ANZ notes have led to market disruptions in the past. (jason.chau@wsj.com)
