Eramet’s Buffet Sees Indonesian Nickel Export Ban as Positive

Reuters reported that Patrick Buffet, chairman and chief executive of France’s Eramet SA (EPA:ERA), believes Indonesia’s export ban is a positive development and will “eventually support nickel prices.”

As quoted in the market news:

Eramet Chairman and Chief Executive Patrick Buffet’s view, expressed in the company’s annual results release, that the ban ‘is a positive step towards restoring market balance’ pretty much sums up the consensus view of the market.

The ban is a potential game-changer for a market that is suffering from chronic low prices resulting from high stocks and supply surplus.

The collective expectation, and hope for other nickel producers, is that the ban will over time generate two interlinked bullish trends.

Click here to read the full Reuters report.