Nickel smelters in top producer Indonesia are making rare purchases of ore from the Philippines to ease tight supplies, people familiar with the matter said, upending trade flows of the raw material and pushing up costs across the supply chain. Jakarta recently delayed the issuing of mining quotas and suspended operations at a key site of state miner Aneka Tambang (Antam) after an investigation into corrupt practices in issuing mining allowances.
Nickel smelters in top producer Indonesia are making rare purchases of ore from the Philippines to ease tight supplies, people familiar with the matter said, upending trade flows of the raw material and pushing up costs across the supply chain.
Some firms are now buying ore from neighbouring Philippines, the world's No. 2 supplier, in the event that new mining quotas are further delayed, said three smelter managers, two nickel traders and a Chinese analyst. The person did not specify how much the smelter is buying but said the purchases are of low-grade limonite ore.
But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed.Volumes in the first half from the Philippines were less than 1 000 tons in nickel content compared to Indonesia's 1.6-million tons mined last year, data from the Indonesian government and the International Nickel Study Group showed.
Imports from the Philippines could rise to 100 000 tons for July and August combined because of the supply tightness, according to Chinese consultancy Mysteel.
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