Japan nickel users face higher costs, supply hunt after Indonesia ban

Posted on January 13, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Jan 13 (Reuters) – Japan, home to some of the world’s biggest stainless steel producers, will face higher costs and a scramble to find new nickel supply after Indonesia enforced an export ban on the raw material.

Global nickel prices and mining shares rallied a day after Indonesia banned unprocessed exports of nickel and bauxite, in a move aimed at getting higher returns for its resources by forcing companies to refine the minerals on Indonesian soil.