Indonesia nickel move may cut global supply by 35%, Macquarie says
Indonesian mine output remains the key swing factor for prices, according to Macquarie.
Nickel miner Vale Indonesia reported 12,567 tonnes of nickel matte output for the April-June period, down 16.5% from the same period last year which was at 15,048 tonnes, the company said in a statement on Tuesday.
The second quarter output brought Vale’s January-June nickel matte production to 26,394 tonnes, lower compared to last year’s 30,246 tonnes, due to a rebuilding project of one of its furnaces.
(By Bernadette Christina Munthe and Fransiska Nangoy; Editing by Kanupriya Kapoor)
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