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Bloomberg reported nickel-ore and bauxite shipments from Indonesia to China may plunge 75% in the next year on a shipping ban.
Bloomberg reported nickel-ore and bauxite shipments from Indonesia to China may plunge 75% in the next year on a shipping ban.
As quoted in the market news:
The ban, originally set for 2014, was brought forward as exports surged in the past three years, Syahrir Abubakar, executive director of the Indonesia Mining Association, said in an interview. The country shipped 33 million metric tons of nickel ore and 40 million tons of bauxite in 2011, he said. China, the world’s biggest metals user, bought about 80 percent of its bauxite and 53 percent of its nickel-ore from the Southeast Asian nation last year, customs data showed.