Nickel was the big story of the day today; Western Areas, the only pure-play nickel producer in the ASX200, was down a massive 19% on news that Indonesia had eased its ban on the export of nickel (and bauxite) ores and concentrates. It’s been around three years now since the Indonesian government announced that it would restrict the export of unprocessed ores in an effort to encourage the domestic smelting industry. Reports suggest Chinese companies have invested upwards of USD 15b in building smelters in Indonesia.