21 February 2025 – Indonesian nickel ore prices jumped sharply today, Friday, as the world’s second-largest nickel ore supplier plans an Indonesian-style export ban. EU Trade Commissioner in Washington for talks on tariffs.
Indonesian nickel ore prices jump significantly upwards
Indonesian nickel ore prices jumped significantly today, Friday, with an increase of 6.4%. The background to this is the Philippine government’s efforts to introduce a nickel export ban modelled on Indonesia.
NPI and stainless steel prices also up
Prices for Indonesian nickel pig iron (NPI) have already reacted to the rise in ore prices and have risen by around 0.7% today. Chinese stainless steel and stainless steel scrap also increased in price by up to 0.7%.
Tariffs: EU Trade Commissioner in Washington for talks
EU Trade Commissioner Maroš Šefčovič is currently in the United States, among other things to negotiate averting new tariffs imposed by the US government.
According to media reports, he has an offer in his luggage to reduce the current 10% European automotive tariffs. The EU also wants to negotiate a trade deal for the purchase of American liquefied natural gas in order to obtain alternatives to the current energy imports.
EU offer not yet good enough?
So far, however, there does not appear to be a final solution to the smouldering trade conflict. Possibly also because the EU has not yet exhausted all its options – such as sourcing more oil from the United States.
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