Indonesian Ore Ban Could Boost Nickel Prices in 2014

The Jakarta Globe reported that an Indonesian ban on unprocessed ore exports, set to take effect next year, could spur a recovery in nickel prices, according to Norilsk Nickel (MCX:GMKN) executives.

As quoted in the market news:

A strictly enforced ban on exports of ore would support demand for refined nickel, said Pavel Fedorov, deputy chief executive of Norilsk Nickel, who met government and industry officials in Jakarta to assess how the policy would be implemented.

‘We received high-level assurances that there is a game plan in place that would ensure restriction on export of ore would be in place by January and would be subject to very strict rules and regulations,’ added Fedorov, who did not name the Indonesian officials he met.

Click here to read the full report from The Jakarta Globe.