The Indonesia nickel miners association said on Wednesday the country’s anti-monopoly body has launched an investigation into alleged cartel practices impacting pricing by local smelter operators.
The probe was launched after the nickel miners association (APNI) filed a complaint a few months ago, secretary general Meidy Katrin Lengkey told reporters.
She said two giant smelters controlled 60% of the domestic nickel ore market and local prices.
“Because their demand is so dominant, they control the prices and other smelters, like it or not, have to follow,” Lengkey told reporters.
An official at the anti-monopoly body, the Commission for the Supervision of Business Competition (KPPU), did not immediately respond to a request for comment.
APNI has often argued that local smelters push nickel ore prices down, making the domestic market less attractive than selling overseas.
Full Content: Reuters
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