indonesia nickel prices

stainless steel sector

Indonesia To Damage The Stainless Steel Sector

Indonesia has announced that it is going to ease up its export ban on nickel ore. It appears it is going to allow nickel miners to export as long as they dedicate at least 30 percent of their smelter capacity to processing low-grade ore, defined as below 1.7 percent nickel.  For Spanish Acerinox, as well as the rest of the stainless steel sector, this news is very negative as it will put downwards pressure on nickel prices.