Base Metals: Nickel Prices Supported By Indonesia Export Law

Reuters reported a change in nickel regulation in Indonesia has supported nickel prices on the London Metal Exchange recently.

As quoted in the market news:

Japan’s imports of nickel ore from Indonesia grew more than four times from a year earlier to 136,600 tonnes in June, the Ministry of Finance’s monthly customs data showed on Monday.

Cargoes that had been delayed in the wake of the implementation of a new tax in Indonesia arrived in May and June, an official at Japan’s Mining Industry Association told Reuters last week.

Click here to read the full Reuters report.