Indonesian ore export ban could cause nickel deficit as early as Q3 – Norilsk

The nickel market could move into deficit by the third quarter of 2014 as the Indonesian ore export ban prompts “structural changes”, Norilsk Nickel said on Monday March 7.

As the world’s largest nickel producing company posted a 15% fall in net profit for 2013 due to lower metals prices, it said the outlook for nickel prices is improving amid tighter supply due to the ban.
The Indonesian ban on raw materials exports was enforced in January after months of speculation about the likelihood of it being implemented and sustained.

The increase in nickel pig iron production in China in recent years has been a major driver of oversupply in the nickel market,...


Janie Davies

April 07, 2014

12:20 GMT