Beijing, April 1st (Argus) - Market sources report that Indonesia has postponed the nickel export tax that was originally scheduled to take effect on April 1st.Beijing, April 1st (Argus) - Market sources said that Indonesia has postponed the nickel export tax that was originally scheduled to take effect on April 1st. The relevant departments are still finalizing the technical calculation formula and applicable tax rates, but the exact implementation date of the export tax has not yet been announced. The relevant departments are still finalizing the technical calculation formula and applicable tax rate, but the exact implementation date of the export tax has not yet been announced. Market sources told Argus that one of the key points of discussion is the adjustment method of the nickel mineral benchmark price (Harga Patokan Mineral, HPM), including which reference prices will be used and which elements will be included in the calculation. The cobalt content in nickel ore is considered to be one of the elements most likely to be included in the pricing formula. Market sources told Argus that one of the key points of discussion is the adjustment method of the nickel mineral benchmark price (Harga Patokan Mineral, HPM), including which reference prices will be used and which elements will be included in the calculation. Additionally, iron and chromium are also under consideration.
Market sources stated that these elements were not previously included in the HPM pricing formula for nickel ore. The cobalt content in nickel ore is considered to be one of the elements that are most likely to be included in the pricing formula. Additionally, iron and chromium are also under consideration. Market sources said The nickel mineral reference price (Harga Mineral Acuan, HMA) is an important pricing guideline for nickel products and is used in the calculation of that these elements have not been included in the HPM pricing formula for nickel ore before.HPM. The nickel mineral reference price (Harga Mineral Acuan, HMA) is an important pricing guideline for nickel products and is used in the calculation of HPM. Previously, the nickel pricing under HMA was mainly based on the LME nickel price, but other elements had no futures prices, which made it uncertain which benchmarks or data sources would be used in the future, the sources said. Previously, the nickel pricing under HMA was mainly based on the LME nickel price, but other elements had no futures prices, which made it uncertain which benchmarks or data sources would be used in the future, the sources said. Market sources predict that the structure of the nickel export tax may reference the Indonesian coal export levy mechanism, with tax rates possibly set at 5%, 8%, and 11% by price range. However, it is still unclear which nickel products will be subject to this tax. Market sources expect that the structure of the nickel export tax may refer to the Indonesian coal export levy mechanism, with tax rates set at 5%, 8%, and 11% by price range. Although the tax has been postponed, market participants remain cautious because the cost of nickel imports may increase. However, it is still unclear which nickel products will be subject to this tax. Although the tax has been postponed, market participants remain cautious because the cost of nickel imports may increase. In the context of overall stable demand for stainless steel, expectations of price increases have prompted some buyers to adopt a wait-and-see attitude, thereby slowing down short-term demand. In the context of overall stable demand for stainless steel, expectations of price increases have prompted some buyers to adopt a wait-and-see attitude, thereby slowing down short-term demand.
