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Nickel close to month-high as Indonesia keeps ore ban
January 16, 2015
Author:  Frik Els | Quoted from

Bambang Adi Winarso, a senior adviser to the co-ordinating minister for economic affairs, announced the ban extension, Bloomberg reports.

Ore from Indonesia —the world’s No. 1 nickel producer— is used for generating about 30% of the global nickel supply, which in turn is used to make stainless steel.
Most of it is sent to China, where is processed into nickel pig iron (NPI), a cheap alternative to pure nickel.
The country effectively halted all but processed metal shipments in January in an effort to force miners to build smelters, winning the country bigger returns from exports of its mineral resources.


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