Indonesia Sees Nickel Holding Near Current Levels on New Plants
- Government to invite industry to discuss ore supply, tax perks
- Country dominates market with more than half of output
This article is for subscribers only.
Indonesia’s government sees nickel prices stabilizing near current levels in the future, as new plants in the world’s biggest producer offset rising demand and keep the market well supplied.
Prices on the London Metal Exchange should hold around $15,000 to $16,000 a ton in the short to medium term, Septian Hario Seto, a deputy at the Coordinating Ministry for Maritime Affairs and Investment, said in a presentation in Bali on Thursday. An additional 928,000 tons a year of capacity is set to come online within the next three years, most of which will produce nickel for electric vehicles.