New projects reaching full production led to a significant increase in Indonesia's hydrometallurgy intermediate products output, which rose by 21.68% MoM [SMM Analysis]

In August 2024, Indonesia's hydrometallurgy intermediate products production was 27,500 mt (Ni contained), up 21.68% MoM and 80.92% YoY. The cumulative production in January-August rose by 107.86% YoY. This month's increase in hydrometallurgy intermediate products was significant. By island, Sulawesi's hydrometallurgy intermediate products production was 9,300 mt (Ni contained), flat MoM and up 22.37% YoY; the total production from other islands was 18,200 mt (Ni contained), up 36.84% MoM and 139.747% YoY. The significant increase in hydrometallurgy intermediate products this month was mainly due to two reasons: first, after the end of abnormal weather in Indonesia, the production of hydrometallurgy projects affected by the weather began to gradually recover; second, a new project in Indonesia that started production within the year successfully reached full production.

In September 2024, it is expected that the production of projects previously forced to reduce output due to weather will continue to recover. Therefore, the expected production of Indonesia's hydrometallurgy intermediate products in September is 28,500 mt (Ni contained), up 3.64% MoM and 77.02% YoY. The cumulative production in January-September is expected to rise by 103.08% YoY.