(The opinions expressed here are those of the author, a columnist for Reuters.)
(Reuters) – Indonesia’s ban on exporting unprocessed nickel and bauxite has been in force for more than two months, but the impact has yet to fully show up in Chinese imports.
China’s trade data for February shows nickel ore imports from Indonesia were about 3.1 million tonnes, down only 2.5 percent from the same month a year earlier.
Indonesia’s ban on exporting unprocessed minerals took effect on Jan. 12, and while there have been some moves to relax restrictions on copper and other ores, the total ban on nickel and bauxite remains.
Nonetheless, Indonesia’s share of China’s total nickel imports in February was 87 percent, showing the world’s biggest buyer of commodities hasn’t made a marked shift as yet to alternative suppliers.
In the first two months of the year China imported 9.2 million tonnes of nickel ore from Indonesia, a 29.1 percent jump over the same period in 2013. Continue Reading →