Login ID:
Password:
Partner Login
Contact Us : 7066511911

Indonesia Revises Down outlook for Nickel smelter capacity by 2022; LME Nickel Up 1.5%

6 Dec 2019 1:19 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) - Indonesia expects to have 29 nickel smelters operating by 2022, with total annual input capacity of nearly 70 million tonnes. The statement comes from Indonesia’s Mining Ministry, as they make a downward revision in November projection of ore refining capacity.

The Ministry has scaled back its estimate of 91 million tonnes of input capacity at 37 operating smelters in 2021 made last month.

The revision comes in the wake of slow progress with smelters’ construction. The Ministry cleared that 11 of the 29 smelters are already in operation, with annual input capacity of nearly 27 million tonnes.

The government also revised down its projection for bauxite smelters to nine, from 11 previously.

The government is pushing for domestic ore processing to add value to its exports.

Indonesia, a major exporter of nickel ore, is set to stop exports of raw nickel in January. Exports of other ore and concentrates will stop in 2022.

Overall, the government expects a total of 52 mineral processing plants in 2022 with total combined investment estimated at $20.39 billion.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
LME-Warehouse Stock Movements 17th January
LME Copper Holds Steady Ahead Of Chinese Data Indicati...
LME-Warehouse Stock Movements 16th January
UBS Sees Copper At $6000/Oz For End-March 2020
LME Copper Ticks Up Post Sino-U.S. Trade Deal Signing
more
Top 5 News
Comex Gold Edges Higher; Faces First Weekly Decline In...
Domestic/Imported Tur Trades Weak At Major Markets
Chana Eases At Major Spot Markets As Acreage Ups 10%
Spot Mentha Prices Unchanged In Limited Trade
Domestic/Imported Urad Flat At Major Markets
Top 5 Special Reports
USD/INR (Jan. 20) Testing Short-term Support Near 70...
USD/INR (Jan. 20) Testing Range Support Near 70.80
USD/INR (Jan. 20) Testing Range Support Near 70.80
China Commits Purchase Of $50 Billion Worth U.S. Agri P...
USD/INR (Jan. 20) Weak Price Trend Testing Range S...
Copyright © CC Commodity Info Services LLP. All rights reserved.