SMM #1 Refined Nickel Price Falls by 1,700 Yuan/mt, Spot Premiums Decline

Coordinating Minister Airlangga Hartarto announced Thursday that Indonesia is evaluating a coal export tax following a meeting with President Prabowo Subianto. The tax aims to capture "windfall profits" from surging global energy prices to boost state revenue and offset fiscal pressure from rising domestic fuel costs. While specific rates are under review, Hartarto emphasized that a broader windfall tax remains an option if high commodity prices persist. Currently, as there is no official regulations being released for the specific export tax or windfall tax being implemented to commodities, SMM will continue to monitor with the update of the regulations.

[SMM Nickel Flash] COSCO SHIPPING Lines: Resumes New Booking Business to the UAE, Saudi Arabia, and Other Middle Eastern Regions. On March 25, COSCO SHIPPING Lines issued a service notice announcing the immediate resumption of new booking business (standard containers) from the Far East to the following countries in the Middle East: the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq.

Russia’s MMC Norilsk Nickel PJSC is betting on artificial intelligence as part of a $100 million push to find additional uses for palladium as electric vehicles erode the metal’s main source of demand.Nornickel, the world’s biggest palladium producer, aims to create 1.7 million ounces of new annual consumption for the metal. That’s equivalent to almost a fifth of existing demand.