Indonesia to Cut Export Duty on Copper Conc.; No Relax on Nickel Ore and Bauxite

Apr 25, 2014 11:11

Source:SMM

Indonesian government agreed to cut export duty on copper concentrate to 10%, but no easing was imposed on nickel ore and bauxite exports, Shanghai Metals Market learnt.

SHANGHAI, Apr. 25 (SMM) – Indonesian government agreed to cut export duty on copper concentrate, but no easing would be imposed on nickel ore and bauxite exports, Shanghai Metals Market learnt.

The cut in duty, which might fall to no more than 10%, was due mainly to worries over the closure of mining companies and massive layoffs, Jakarta Post reported on April 24.

The news that Indonesian government agreed to ease export duty on mineral products also triggered speculation over any relaxation of export policy on nickel ore and bauxite.

So far, no news was heard that Indonesia would ease its ban on nickel ore or bauxite. Any change to export policy of nickel ore by Indonesia would significantly impact the market, SMM understood.

On April 25, FOB prices for Ni 1.8% nickel ore surged to $82 per tonne from the $33.5 level since Indonesia's ban took effect early this year.

Indonesia export ban

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Indonesia to Cut Export Duty on Copper Conc.; No Relax on Nickel Ore and Bauxite

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