PTNDF - Vale Indonesia: Indonesian Nickel In Matte Producer Is A Beneficiary Of Ban On Nickel Ore Exports
Elevator Pitch
There have been two key positive developments for Indonesia-listed nickel producer PT Vale Indonesia Tbk (PTNDF) (PTNDY) [INCO:IJ] in recent months. One is that Indonesia is implementing a ban on nickel ore exports with effect from January 1, 2020, which should provide support for nickel's price. Another key development is that the overhang on Vale Indonesia regarding compliance with foreign ownership restrictions has been removed. In the medium to long term, demand for nickel is expected to be strong, driven by both stainless steel production and lithium-ion batteries for