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Jakarta Post

Ferronickel prices to rise 15 percent in 2010, Antam says

  • Alfian

    The Jakarta Post

Jakarta   /   Mon, April 5 2010   /  11:24 am

Given recovery in world demand, Indonesia’s state-owned mining company PT Aneka Tambang (Antam) expects average ferronickel prices to rise to at least US$15,000 per ton or higher by about 15 percent a year earlier.Antam’s president director Alwin Syah Loebis said that Antam’s average ferronickel price last year was
$13,000 per ton. “We expect it to improve this year,” he said last week. Alwin quickly added that $15,000 per ton was a very modest estimate set by the company in its annual working plan.“We set a very conservative figure. Actually, the ferronickel price has been above $23,000 per ton,” he said.On Thursday last week, nickel on the London Metal Exchange gained as much as 0.8 percent rising to $25,185 a ton, the highest since May, 2008, Bloomberg reported.Alwin refused to mention Antam’s revenue target for this year, but he said the company expected growth in...