The Indonesian government planned to adopt a nickel export tax policy in the third quarter of this year, but it has yet to be implemented. However, the news surfaced again last week.
According to the agreement, the introduction of taxes on nickel pig iron (NPI) and ferronickel is a matter of time. If an export duty is introduced, Chinese steel mills will have to spend more money on raw materials.
If an export duty of 10% is applied to the current NPI price, then Chinese-made 304 stainless steel will rise by $152 per ton.
The Chinese exporter is concerned that after the introduction of the NFC export tax, the market share of Chinese materials could be replaced by Indonesia. Moreover, since the beginning of this year, due to competition from Indonesian goods, the export of 304 stainless steel has been difficult, so manufacturers have switched to exporting materials of grades 200 and 400, which are not produced in Indonesia.
Indonesia plans to introduce an export duty on nickel pig iron
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Azovpromstal® 1 November 2022 г. 10:32 |
