[burst]

Published: Oct 28, 2019 19:10
Indonesian nickel export ban takes effect today

SMM10, 28 Jun: according to foreign sources, Baril Rahadalia (Bahlil Lahadalia), chairman of the Indonesian Investment Committee, issued a statement saying that the Indonesian government immediately banned nickel mine producers from selling abroad. The export ban imposed today is earlier than the original January 1, 2020.

According to Lahadalia, the ore used for export will be purchased by domestic refineries at international prices, excluding taxes and transit costs.

After the news, the LME three-month nickel plate rose, to 19:19, an increase of 0.86% to $16995 / ton.

"Click to sign up for a thousand people event in China's non-ferrous metals industry.

Share the China Nonferrous Metals Industry Annual meeting registration link to the circle of friends or WeChat group of more than 100 people, and send screenshots to the WeChat account below to get the right to view "SMM Metal Breakfast" for one year (the original price is 300 yuan / year).

Scan QR code plus WeChat

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
51 mins ago
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Read More
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.
51 mins ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
53 mins ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Read More
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.
53 mins ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
54 mins ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Read More
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.
54 mins ago
[burst] - Shanghai Metals Market (SMM)