Nickel price hits nine-month high as Indonesia plans to cut output
Nickel is still among this year’s weaker performers on the London Metal Exchange.
Nickel is still among this year’s weaker performers on the London Metal Exchange.
Arif Kurniawan has gone from earning paychecks at Glencore to controlling approximately a third of his country’s domestic trade in nickel ore.
Nornickel did not pay full-year dividends for 2022, 2023 and 2024.
The metal rose as much as 1.5% on Friday, two days after Indonesia proposed cutting nickel ore production in 2026.
Two new initial resources for its sulphide deposits in northern Ontario now make its Timmins Nickel District the largest undeveloped nickel base in the country.
The Indonesian government is proposing a 34% reduction in production from this year’s total to 250 million tonnes next year.
The Russian miner said it expected the nickel surplus this year to reach 240,000 tons, up from an estimate of 120,000 tones in July.
After the reconstruction, the plant's annual capacity will reach up to 3,000 tons of metallic cobalt.
China financed and built Indonesia's nickel industry, transforming the country into the world's largest producer in the space of a decade.
Low LFP-penetration markets, Europe is off to the races in 2025 and US buyers pull forward purchases before subsidies end.
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