The Indonesian government will ban the construction of smelters that process low-grade nickel products.
Hasyim Daeng Barang, director of minerals and coal downstream at the Ministry of Investment, revealed that the bureau has been discussing the plan.
Clearly, the industry's high-grade nickel resources are being depleted.
Hasyim said that there are too many smelting projects in Indonesia using rotary kiln electric furnace (RKEF), and the resources are only enough for the next 9-10 years. "That's why we tried to pause the construction of such smelters.
More popular news:
Commodity Price Bubble Finally Burst, but Metals Demand Will Surge
Glencore to Massively Expand Copper Capacity
SMM Daily Comments (Jun 2): All Metals Closed Higher with SHFE Nickel Leading Gains, Coke Surged
SMM Daily Comments (Jun 1): Base Metals Mostly Rose with SHFE Aluminium Surging, Ferrous Metals Rose across the board, Iron Ore Skyrocketed
SMM Daily Comments (Jun 5): Base Metals Mostly Fell, Ferrous Metals Bucked the Trend to Surge, Oil Gained Further on Saudi Arabia Output Cuts in July
SMM Indonesia Nickel and Cobalt Industry Chain Conference: Global Nickel & Cobalt Supply and Demand Prospect, Impact from NEV Development
Commerzbank Lowers Price Forecast for Copper, Aluminium, Zinc and Nickel for 2023 and 2024
Rumours Say Glencore Will Raise Takeover Bid for Teck Resources, but Another Big Obstacle Lies Ahead