Indonesia Nickel Trade Slumps

Bloomberg reported new data from Indonesia shows exports of nickel and ores slumped in June from the island nation.

As quoted in the market news:

Indonesia’s June exports of nickel and copper ores and concentrates slumped up to 90 percent, trade ministry data said on Tuesday, showing that new government mining rules have hurt shipments from a major metals supplier to China.

Exports of nickel ore, a raw material used in the production of stainless steel, dropped to 572,106 tonnes in June, down 80 percent from 2,851,924 tonnes in May, the data showed.

Click here to read the full Bloomberg report.