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[Ferro-Alloys.com] 

LME approves listing of first Indonesian nickel brand

The London Metal Exchange (LME) has approved the listing of the first Indonesian brand which can be delivered against the exchange’s primary nickel contract, it said on Thursday, strengthening the selling power of the world’s largest miner.

After the approval, the DX-zwdx brand produced by a plant of Indonesia’s PT CNGR Ding Xing New Energy can be delivered against the LME’s nickel contract with immediate effect, the LME statement said. The plant has annual capacity of 50,000 metric tons.

New brands help to increase the liquidity of stockpiles in the LME-registered warehouses. The approval of the Indonesian brand indicates increased competition for other producers of LME-deliverable nickel.

• [Editor:邢亞敏]