The exchange released new data showing there was no major change in the amounts of Russian metal in LME warehouses last month.

A firmer dollar, higher inventories and profit-taking pushed copper prices lower later in the day.

Indonesia is keen to develop its own EV and battery industries at home, after banning exports of nickel ore to ensure supply for investors since 2020.

The metal price jumped by its 15% daily limit after an unconfirmed report about a blast at a nickel plant in Indonesia.

Company has said it wants to build a gigafactory in western Europe and one in eastern Europe.

The Indonesia Battery Corporation plans to produce 50,000 battery packs for two-wheelers next year.