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Home » FAQs » Indonesia to relax export ban on nickel ore or to benefit China
Indonesia to relax export ban on nickel ore or to benefit China
2017-05-13 10:16:42

 For three years, China has sought the raw materials needed by China's steel mills in Southeast Asia, Australia and even Africa, and the export ban on Indonesia's exports of nickel ore is a great opportunity for china.

Last Thursday (January 12th), Indonesia surprised the market by lifting the export ban on nickel ore and bauxite and extending the export ban on copper concentrates and other concentrates. Indonesia was China's major supplier of nickel ore and bauxite before the export ban came into force in January 2014. Bauxite is the main raw material for making aluminum.
China accounts for about 30% of the world's nickel consumption, most of which is used for stainless steel production. Despite the slowdown in China's economy, stainless steel production remains strong.
China is close to Indonesia in its geographical position, so Indonesia's move will lower the cost of China's purchases of ore for stainless steel and aluminium, which may put pressure on the prices of these commodities on the international market. Before the export ban came into effect, Indonesia accounted for 12% of the world's nickel ore output, accounting for 12%-16% of bauxite production.
Philippines and Malaysia in the two Southeast Asian countries, mining restrictions also means that Indonesia made the decision at this time can be said to be China lucky.
BMIResearch commodity analyst SabrinChowdhury said that the current global market fears of tight supply, Philippines may be in short supply, so Chinese refined nickel producers may still need to be imported from Indonesia nickel ore in order to meet the needs of domestic smelting. Since he took office in July last year, Philippines Ministry of environment and natural resources minister Lopez (ReginaLopez) has canceled six mines in the territory of the license, which is due to environmental considerations on the mining of rectification; Philippines is the world's largest nickel ore supply.
MannySamson, chief financial officer of NickelAsiaCo., Philippines's largest producer of nickel ore, said prices were expected to be under pressure even as part of the export restrictions imposed on Indonesia's nickel ore suppliers. He said the market had expected a shortage of supplies this year, and that Indonesia's news was almost everyone's expectation. He also said he hoped the market would be able to absorb additional supplies.

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