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Jakarta Post

Analysis: RI's nickel industry: Review and outlook

  • Adjie Harisandi

    The writer is an industry analyst at Bank Mandiri

Jakarta   /   Wed, December 11 2019   /  01:42 am

The global nickel price fluctuated quite strongly in 2019. At the end of the first week of December, the global nickel price averaged US$13,964 per ton, up slightly from $13,186 recorded in 2018.It is worth noting that the difference between the highest and lowest nickel prices this year was wider than last year. While the low was similar to the 2018 figure, the nickel price this year jumped to a high of $18,060 per ton, significantly higher than the 2018 peak of $15,750. This surge is connected to the Indonesian government’s move to bring forward a planned nickel ore export ban from 2022 to 2020.Even though the ore export ban has a negative impact on nickel miners, as it limits their market, the policy has proven to bring investment and can improve the nickel industry’s export performance. Since the implementation of Law No. 4 on mineral and coal mining in 2014, 22 nickel processing...