China’s Indonesian NPI Production Review In July And Forecast In August

SHANGHAI, Aug 11 (SMM) –

In July 2023, Indonesian NPI output was 119,400 mt in nickel content, a 2.65% MoM decrease and a 30.8% YoY increase. The 2023 total output reached 766,000 mt in nickel content, a 20.1% YoY rise. This July decrease was anticipated. Policy-wise, Indonesia's local tax and trade underwent subtle shifts. Rising LME prices kept nickel ore prices high, reducing profit margins for some producers. However, varying technological capabilities mean profit disparities among enterprises, with some still finding production profitable. In August, it is expected that the Indonesian NPI output growth will remain limited and is projected to reach 120,200 mt in nickel content, up 1.29% from July and 20.3% YoY.