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The director at the Energy and Mineral Resources Ministry of Indonesia stated that, the country is not planning to get off with their decision which was implemented in the month of January in this year, which was mainly implemented to promote domestic smelters.
According to the senior consultant of Macquire group Ltd., Jim Lenon, the price of nickel would most probably rise with the stern decision of Indonesia, and also increase in the deficiency of supply.
The head of analytics, sales at the Marex Spectron group, based in London, Vicky Sanders stated that, the primary feedback from the nickel conference conducted in Jakarta, the supply concern seemed to be strict and the ban on exports would likely continue for a rather long period of time.
On the London metal exchange, the nickel stored for delivery, rose to 0.6 percent to 17,125 dollars per metric tonne, touching its first highest point since September 16. The earlier point of nickel has been lowest since April 9, which was 16,483 dollars per metric tonne. Another factor of increase in the price of nickel is the rise in demand from China, the biggest user.
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- [Editor:sunzhichao]
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