Global nickel and steel markets have been disrupted by the pandemic and by a ban on nickel ore exports by the Indonesian government as it seeks to encourage exports of higher value-added products. The launch of the RCEP trade deal may provide Indonesian exporters with reduced tariffs for exports of ferronickel and stainless steel in China and Japan. Indonesian exports of stainless steel surged 375% higher year over year in the three months to July 31 as the policies took effect and as Chinese manufacturers set up facilities. Obsidian Stainless Steel accounted for 58.8% of shipments in...