TEMPO.CO, Jakarta-State miner Aneka Tambang or Antam will divert its ferronickel sales from Europe to Asia. Antam based the sales decision on Asia's stretching market and shipping cost efficiencies.
Finance director Dimas Wikan Pramudhito said the rising demand of ferronickel in Asian comes with the continent's growing automotive industry. Moreover, Dimas said, shipping ferronickel to Asian countries is cheaper than exporting to Europe.
"Shipping to Europe requires a cash cycle of 90 days. To Asia, it's only 30 days," he said Tuesday, June 23, 2016.
This year, Antam is targeting to produce 20,000 of nickel in ferronickel (TNi), an increased volume from 2015's of 17,000 TNi. Dimas said that this year's entire ferronickel production will be exported to Japan, Korea, Taiwan, and China.
Antam corporate secretary Trenggono Sutioso said China is a country that takes up the most of their products. "They will absorb our production, however much the size is," he said.
To support its marketing in China, Antam has established a representative office in Shanghai.
FAIZ NASHRILLAH
