Nickel – Strong bull run forecast if Indonesia ban fully implemented
LONDON, Oct 17 (Reuters) – A potential ban on nickel ore exports by Indonesia next year and production cutbacks could lift the price of this year’s worst-performing base metal by more than 20 percent off multi-year lows, analysts said.
Indonesia, the world’s top exporter of nickel ore, has said it plans to bring in a ban on unprocessed ore exports from Jan. 1, 2014. Its ore is currently shipped to China to produce nickel pig iron, a cheap substitute for higher grade nickel in stainless steel.
It is not certain that the ban will go ahead unchanged, but if it does analysts said it would be a game-changer for prices.
http://in.reuters.com/article/2013/10/17/nickel-indonesia-idINL6N0I73C320131017
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