The nickel market was shocked by Indonesia’s announcement of an earlier than expected nickel ore export ban. Here, Benchmark looks at the key points and the implications for the battery market.
Indonesia shocked the market in September 2019 as it brought forward its plan to ban exports of nickel ore to January 2020 - two years earlier than it had previously announced - in its drive to promote more downstream domestic processing.
The nickel market is dominated by stainless steel production and much of nickel ore produced in Indonesia is bound for China’s stainless-steel industry. Last year exports from . . .