China is the world's largest stainless steel producer and has long dominated the nickel industry in Indonesia. As such, this has led to strong market pressure from local operators of a metallurgical plant in Indonesia.
According to reports, Indonesia will build 18 nickel plants this year. It has been estimated that the total investment value was around US $ 10-15 billion.
In addition, as Tsingshan Holding Group has invested heavily in Indonesia to build a nickel processing base, it will deal a severe blow to local Indonesian operators.
As a result, local metal sector operators fully supported the government in accelerating the ban on nickel sand exports from the previous target of 2022 to January 1, 2020, and operators also hoped to seize the opportunity to increase the added value of nickel products.
Indonesia to build 18 nickel plants in 2019
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