Nickel Price Control, Indonesia Wants To Form An Indonesia Metal Exchange

Nickel (Photo: dock. Antara)

JAKARTA - Indonesia is rumored to be forming an Indonesia Metal Exchange for nickel commodities which is targeted to be realized by 2025.

"When are our Indonesian goods using exchanges from other countries? LME (London Metal Exchange), Shanghai Metal Exchange, Singapore, whatever. Even though the material is from us, right? Well, Indonesia must already have that," said the General Secretary of the Indonesian Nickel Miners Association (ApNI Sekum), Meidy Katrin Lengkey to the media quoted on Tuesday, July 30.

Through this Indonesia Metal Exchange, he said, it can check buyers and producers to complete regulations and payment of thigh and royalties so that they can certainly be more transparent in order to maintain better nickel management.

"But at least we ourselves control our prices. Don't be based on other countries," he said briefly.

He also could not confirm when the metal exchange was launched because it was still waiting for the inauguration of the new government, but he confirmed that he had received a positive response from the government.

"The response is positive and we are currently starting to formulate what the concepts are like, we are also discussing with CoFTRA and several metal exchanges of other countries and the commodity agency in the world," he concluded.