Indonesia currency erosion driving nickel ore tags down

Sep 12, 2013 | 10:58 AM |

Tags  nickel, Indonesia currency, nickel ore, nickel pig iron, China stainless mills, London Metal Exchange, LME prices, nickel prices

SHANGHAI — Indonesia’s nickel ore prices have fallen by nearly one-third in the first half of the year due to a combination of its depreciating currency value against the U.S. dollar and a weak stainless steel market in China, the largest consumer of the nation’s laterite nickel ore.

"If the U.S. reduces the scale of quantitative easing or quits easing, the rupiah will fall further," a senior nickel analyst in Shanghai said.....

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