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One might be surprised to hear that steel prices are predicted to climb drastically after declining for the previous 15 months leading into 2017, but that is exactly what can be expected. Steel prices are currently the highest they’ve been since the summer of 2011 and this is of no coincidence. There are many factors that contribute to this upward trend.
Last week, Indonesia implemented rules that will now free up the exportation of nickel ore and concentrates of other minerals under particular conditions. This is a dramatic shift in policy by Southeast Asia’s biggest economy and one of the largest global suppliers of nickel. This drastic policy shift may have come as a surprise to some, but a closer look at the Indonesian economy would hint that change was on the horizon.
