News of potential Indonesian ore export ban sends nickel price to 3-mth high [CORRECTED]

The London Metal Exchange nickel price rose to a three-month high of $13,140 per tonne during Thursday morning trading following news from Indonesia’s Ministry of Energy and Mineral Resources that the country will stop the export of unprocessed laterite ore in 2022.

(This article was corrected to clarify that the proposed export ban could come into effect in 2022, not until 2022 as previously stated.) The three-month nickel price hit $13,140 per tonne at 8:37 am London time, the highest since mid-April when it reached a peak of $13,270 per tonne, after headlines emerged suggesting Indonesia will enact a complete ban on the export of unprocessed ore in 2022. A potential ban on Indonesian laterite ore exports has fueled concerns of global laterite ore supply for the...

Published

Ellie Wang

July 11, 2019

13:47 GMT

Shanghai