SHANGHAI, Jul 6 - Following Indonesia's ban on nickel ore exports in 2019, the Indonesian government has mentioned several times to restrict the export of nickel products this year, stating that it will impose a progressive tax on nickel exports, a policy that starts in 2022 with a 2% tax on two nickel products, pig iron nickel (NPI) and ferronickel, mainly involving commodities with less than 70% nickel content.
The move aims at limiting the export of primary nickel products from Indonesia and encourage investment in higher value added nickel products required by the vehicle battery ecosystem, in which a number of companies have already invested.
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