Indonesian authorities have extended the deadline for scrap sellers to comply with new, strict import regulations until the end of the year, leading to a burst of activity in the market, market participants told Fastmarkets on Friday October 16.
Rules concerning the registration of scrap exporters to Indonesia came into force on September 30, causing many deals to be canceled because some exporters were unable to register at their local embassy in time for the rule change.Market participants have also told Fastmarkets of delays to Indonesian steelmakers in renewing their import licenses for scrap. Two trading sources told Fastmarkets that the application process, which used to take ten days, is...