Nickel looks oversold on these facts listed below. The Philippines wont be sorted out any time soon and the Indo ban lift equates to SFA in the big picture. dyor.
From preso
Pre Indonesian Ore Ban Relaxation
2017 heading for a deficit of between 70-75k nickel tonnes
Recent 300 series stainless steel growth in China has been around 13%
Indonesia relaxes the laterite ore export ban implemented in 2014
This is not a reversal of the ban and exports allowed under certain circumstances
The volume of ore that can be exported is being finalised
Exporter must show plans and demonstrate progress to constructing in-country processing facilities
Only impacts ore <1.7% nickel
Exporters must prove 30% of low grade is processed in-country
Rules on majority ownership transfer over 10 years
Only around 3.7Mt of <1.7% nickel laterite to be exported pa announced–immaterial!
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- few interesting nickel points to consider
few interesting nickel points to consider
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