LME approves listing of first Indonesian nickel brand

The London Metal Exchange (LME) has approved the listing of the first Indonesian brand which can be delivered against the exchange’s primary nickel contract, it said on Thursday, strengthening the selling power of the world’s largest miner.

Indonesia has become a new powerhouse of global nickel production in recent years but until now has not produced significant amounts of the metal in the high-purity form traded on the LME, the world’s largest uand oldest metals trading venue.

After the approval, the DX-zwdx brand produced by a plant of Indonesia’s PT CNGR Ding Xing New Energy can be delivered against the LME’s nickel contract with immediate effect, the LME statement said. The plant has annual capacity of 50,000 metric tons.

The exchange, owned by Hong Kong Exchanges and Clearing Ltd

Source: Mining.com