Uncertainty in Indonesia Nickel Quota Policy
In June, Indonesia's nickel supply policy experienced fluctuations, and LME nickel prices fell below $17,000/ton on Wednesday. The Indonesian Ministry of Energy and Mineral Resources stated that quotas for the second half of the year have not yet been decided; previously, there was a plan to raise the quota for laterite ore producers from 2.6 million tons to 3.6 million tons. The 2025 quota is 3.79 million tons, but production cuts were implemented later due to low prices to stabilize the market.
Major Mining Areas Shift Focus to Profitability
Major producing areas such as iron ore in Australia and Brazil, and copper mines in Chile and Peru are shifting from pursuing output to valuing profitability, providing support for prices of key minerals such as copper, nickel, and uranium. However, the nickel market still faces oversupply pressure. As the supplier of 60% of global nickel, policy changes in Indonesia will continue to affect market price trends; actual quota adjustments still require subsequent confirmation.