Nickel Flowing to Europe Shows Indonesia’s Grip on Global Supply
- Country’s nickel pig iron now supplying European steel mills
- Vast rise in Indonesian output has forced closures elsewhere
A nickel smelting plant in North Maluku, Indonesia.
Photographer: Azzam Risqullah/AFP/Getty ImagesThis article is for subscribers only.
European makers of stainless steel are turning to Indonesia for nickel as the country’s booming output forces plants in other countries to shutter.
Exports to Europe of Indonesian nickel pig iron — an ingredient for stainless steel used primarily by Chinese producers — to Europe have surged to 87,485 tons this year from just 1,006 tons in 2023, according to Indonesian government data. The Netherlands, Italy and the UK have taken the shipments, the data show.