Indonesia Aims to Cap Nickel Prices at $18,000 According to government official Septian Hario Seto, Indonesia intends to maintain sub-$18,000 per metric ton LME pricing. Amid the rise of new EV battery technologies, some of which do not include nickel, Indonesia is likely hoping to keep nickel-containing batteries a profitable choice for EV producers. For reference, nickel closed the week of the 15th at $18,350/mt.
Short of “green nickel” tariffs, there is little doubt that Indonesia can drag nickel prices lower amid robust output. While it has drawn the ire of mines elsewhere, Indonesia’s use of cheaper but dirtier coal to fuel its mining operations gives it the market advantage over costs.
https://oilprice.com/Metals/Commodities/Indonesia-Aims-to-Cap-Nickel-Prices-at-18000.html