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Indonesia considers lowering nickel production to balance market

22 Jan 2025 15:07 reported by Evelyn Wu

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Indonesia is weighing a reduction in its nickel production quota for 2025, which could help stabilize global prices. The Ministry of Energy and Mineral Resources is considering setting the quota between 150 million and 200 million tons, down from 270 million tons in 2024.

Indonesia, which controls over half of global refined nickel production, is making this move to prevent a continued decline in nickel prices. Prices have dropped by 40% over the past two years due to oversupply and slowing demand in the market. The adjustment aligns production with domestic industry needs and export markets.

If the quota cuts proceed, analysts expect a decrease in the global nickel surplus, with a smaller expected surplus of 60,000 tons this year, which could help boost market stability.

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