Indonesia’s recent ban on exports of raw nickel in an attempt to boost the nation’s refineries, has left China, the biggest importer scrambling to find alternative solutions. According to a Bloomsberg News survey, Chinese mills that import Indonesian raw material for the production of nickel pig iron, a substitute of the refined metal, have amassed stockpiles to last them half a year.

The 29 million metric tons that have been inventoried at warehouses and ports around the country, provide enough supplies to sustain production until July based on last year’s pace. But not all manufacturers are in the same boat. Small and medium-sized factories expect to have enough supplies only for the next three to four months.

The possibility of a deficit in the global nickel market seems highly probable with Indonesia, the largest producer of the metal worldwide, put its ban in effect on 12th January. Chinese NPI only covers about a quarter of the global nickel supply, and its ore and refined metal prices are expected to rise as demand will surge.

On the markets, the metal ended a five-day rally with a drop of 0.8 percent.