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Kallanish Kallanish

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December, 11th 2019

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NOV 11
05:29

Indonesia ends temporary ban on nickel ore exports

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Indonesia's Minister of Maritime Coordination and Investment, Luhut Pandjaitan, has announced the resumption of nickel ore exports until the new ban takes effect from January 2020, Kallanish notes.

Official documents from the Indonesian government suggest that nickel ore below 1.7% nickel content can be exported before 31 December 2019. Export companies still need to have a valid nickel export license.

Market surveys show that some miners have resumed shipments at this stage. Ships that were initially held back because of the investigation were also sailing to China in batches. It is expected that 50-60 ships with nickel ore will arrive shortly in China's ports.

Due to the sudden announcement of the Indonesian ban, many Chinese smelters did not build up stocks in advance. Although the resumption of supply has moderated nickel prices, smelters in China are expected to buy up ore before the ban is again implemented at the end of the year.