With scarcer nickel supply now, Indonesia is missing out March 24, 2022
“Indonesia’s Nickel Export Ban: Bad for Itself and Global Economy.
Now that Russian nickel faces sanctions, Indonesia could be in for a windfall as buyers compete for a scarcer resource.
In essence, the government has made Indonesian nickel off-limits to the highest bidder, thereby limiting the resource’s potential to enrich Indonesians.”
“Even before Russian President Vladimir Putin’s invasion threw the market off-balance, demand for nickel had climbed sharply. According to Nornickel’s most recent annual report, global nickel consumption rose from just below 1.3 million metric tons in 2009 to more than 2.4 metric tons in 2020."
“Until recently, Russian nickel constituted about one-tenth of global supply. But Indonesia boasts the world’s largest nickel reserves and is already the largest producer. Now that Russian nickel faces sanctions, Indonesia could be in for a windfall as buyers compete for a scarcer resource. Unfortunately for Indonesians, their government has banned nickel exports.”
https://www.heritage.org/international-economies/commentary/indonesias-nickel-export-ban-bad-itself-and-global-economy