Indonesia NPI output in October and forecast for November

Published: Nov 9, 2023 17:36

Source: SMM

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Indonesia's October 2023 NPI production was 115,800 mt in nickel content, down 4.04% MoM but up 9.51% YoY.

Indonesia's October 2023 NPI production was 115,800 mt in nickel content, down 4.04% MoM but up 9.51% YoY. 2023's total production through October was 1.1195 million mt in nickel content, up 18.7% YoY. The decline in high-grade NPI production aligns with SMM predictions. Weak demand and falling prices have pushed some producers into losses, delaying production line restarts. With weak NPI demand, profit margins for high-grade nickel matte production are improving, leading some to switch production. November's high-grade NPI production is projected to fall further to 112,900 mt in nickel content, down 2.5% MoM.

Output

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