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Nickel supply to shorten on Indonesia’s export ban
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It’s estimated that the nickel prices might rebound to US$20,000/ton as it has been forecasted a shortage of 55,000 tons in this fourth quarter caused by Indonesia’s export ban.
Indonesia’s nickel production acquired 23% of the global total output. Also, 60% of raw material for nickel pig iron production in China is from Indonesia.
The Indonesian government previously planned to start the nickel export ban in 2014 in order to boost the domestic smelters.
However, the government currently decided to start the nickel export ban ahead of the schedule in order to restrain the miners’ exploration before the ban is put effective.
Affected by this factor, it’s predicted that China’s pig iron output might decrease by 10% in 2012 and it might drip further by 20% in 2013 from that in 2011.
News Date
6/12/2012 12:37:41 PM
reported by
Peak Zhou
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