Indonesia's Ministry of Finance has issued Decree No. 32/MK/BC/2026, imposing export restrictions on ferroalloy products classified as strategic natural resource commodities. The regulation took effect on June 1, 2026. Under the new rules, ferroalloy products subject to export restrictions include ferronickel products. Specifically, the regulation covers items under HS code Ex.7202.60.00, including ferronickel (FeNi) with nickel content of 8% or more, nickel sponge and granules with nickel content of 4% or more, and low-grade ferronickel with nickel content between 2% and 4% and iron content of 75% or more. Exports require a surveyor's report and relevant export permits. From January 1, 2027, these ferroalloy products may only be exported by state-owned export enterprises (BUMN Ekspor) or with a certificate issued by the Ministry of Trade. For exports to specific destinations, whether conducted by state-owned or non-state-owned enterprises, the surveyor's report requirement may be waived upon presentation of a certificate from the Ministry of Trade. The new regulation also repeals the relevant provisions on ferroalloy products in the previous Finance Ministerial Decree No. 24/MK/BC/2026.
Written by Cora Ji, jiruyan@mysteel.com
