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The Indonesian government may start imposing export taxes on nickel pig iron (NPI) and ferronickel (FeNi) in 2022, and the market estimated that the tax might be 2%.
The Indonesian authority considered NPI and FeNi with lower added value, so the government planned to limit the construction of smelters and the export of NPI and FeNi and to attract investment in the processing of indigenous resources and create jobs.
Based on statistics, Indonesia''s total production of ferronickel in 2021 increased by 45.34% year on year, and 42 new production lines were added in 2021, 8 more than in 2020.
From January to November 2021, China imported 2.8464 million tons of ferronickel from Indonesia, a year-on-year increase of 15.15%, accounting for about 84% of China''s total import volume.
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