Under the impact of the global epidemic, Indonesias service industry and tourism industry have suffered a lot. However, with the support of rising commodity prices, assuming that Indonesia has a good grasp of the development of its own energy industry, it is bound to play an important role in promoting economic recovery.

  Following the formal implementation of the ban on nickel ore exports again in January 2020, Indonesian officials have planned to announce the nickel resource tax policy in the third quarter to impose export taxes on relevant nickel pig iron and nickel iron in order to increase the export revenue of nickel products, further improve the export structure of primary metal products, and encourage domestic high value-added production of nickel resources.

  Nickel resource is one of the important raw materials in steel and new energy industries, which is mainly used in the production of stainless steel, batteries and alloys. Among them, the stainless steel industry accounts for 70% of nickel resources. With the rapid development of the global new energy vehicle industry, the demand for nickel resources is also growing rapidly.

  As the most important nickel supplier in the world, Indonesia accounts for 52% of the global nickel resource reserves, and its every action on nickel resources has an important impact on the world nickel resource market. As the worlds largest consumer of nickel resources, relevant data show that more than 90% of Chinas nickel resources come from the Philippines and Indonesia. Before the implementation of the ban in 2020, more than 95% of Chinas laterite nickel resources were imported from Indonesia.

  In fact, Indonesia began to plan for the export ban of nickel raw ore as early as 2009. The first time it officially implemented the export ban of nickel raw ore resources was in 2014, and then it was adjusted until 2020. In the case of multiple policy adjustments, in order to better develop, many Chinese related enterprises have already started the layout of overseas assets. By the end of 2021, more than 10 Chinese enterprises have been put into operation in Indonesia, and the production capacity of ferronickel has exceeded 2.6 million tons. At present, nickel resources are mainly returned to China by digesting nickel raw ore - producing ferronickel locally.

  The export tariff planned by the Indonesian government this time is aimed at ferronickel and nickel pig iron products, which may have a certain impact on Chinas ferronickel import supply. However, as the saying goes, "you have a good plan, I have a ladder over the wall". Since the export of ferronickel needs to be taxed, Chinese enterprises can also export stainless steel products with ferronickel as the raw material. This may further promote the digestion of ferronickel in Indonesia, and prompt Chinese enterprises to produce stainless steel products to return to China faster.