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Nickel price increases due to strike in Indonesia

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Update time : 2020-10-13 16:32:25
Indonesian workers protested in several cities including Jakarta against the controversial Job Creation Law in early October. The demonstrations will last about 4-5 days. The new law canceled the contract period for up to 3 years and also cut severance pay.

The Indonesian government stated that the law will attract investment. However, critics believed that the law is too pro-business and a union leader said that the union is preparing to several rallies and planned to call on 5 million Chinese workers to go on strike from October 6-8, asking the government to abandon labor reform measures.

Millions of workers in Indonesia protests and strikes. If the strike is continuous, it may affect the ferronickel production sharply. LME nickel and Shanghai Nickel rose sharply and China's 304 stainless steel also increased.
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