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COVID-19 turns Indonesian ore export ban into curse for nickel market: S&P

Mining Journal - The report focused on Indonesia's ore export ban, which had been expected to drive nickel prices higher this year.

It said the forecast surplus and price drop were due to two factors - demand destruction caused by the COVID-19 pandemic lowering prices and its expectation Indonesia's primary nickel production would jump by 46% to 550,000 tonnes this year.

"In the absence of sufficient primary demand due to COVID-19, higher Indonesian production will not be absorbed," the research by Jason Sappor said.

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