Indonesia may restrict the export of nickel with content less than 40%

According to foreign media reports, Indonesia plans to impose an export ban or tax on nickel, which will restrict the export of nickel with a content of less than 40%. In 2020, China imported 382,800 metal tons of ferronickel from Indonesia. From January to July 2021, China imported 259,800 metal tons of ferronickel from Indonesia. As of press time, LME 3 has risen to US$20,295/ton, an intraday increase of 3.66%. However, the relevant nickel processing plants in Indonesia have not yet received relevant instructions.