On September 5, according to foreign media reports, the Indonesian government is optimistic about the future nickel price and expects it to stabilize around the current level. This forecast is based on the fact that the production capacity of the new plant in the country will effectively offset the growing market demand, thereby maintaining the adequacy of market supply. Indonesia's Deputy Minister for Maritime Affairs and Investment Septian Hario Seto further noted in a statement on Thursday that nickel prices on the London Metal Exchange (LME) should remain at $15,000 to $16,000 a tonne in the short to medium term.

Deputy Minister Seto highlighted Indonesia's ambitions in the nickel industry, especially for nickel supply in the electric vehicle market. He revealed that Indonesia will add 928,000 tons of nickel production capacity per year in the next three years, most of which will focus on the production of nickel materials for electric vehicles. This rapid expansion not only demonstrates Indonesia's commitment to the development and utilization of nickel resources, but also heralds the country's further importance in the global electric vehicle supply chain.

Along with the rapid expansion of the mining industry, Indonesia is also facing potential problems with ore supply. As mining rates are much higher than expected, the nickel content in the ore is gradually decreasing, which may have an impact on future production. To this end, Seto said that the Indonesian government will actively intervene to bring together relevant parties in the nickel industry to discuss solutions for ore supply. At the same time, the government is also considering adjusting the existing tax holiday policy for nickel projects to better incentivize and support the sustainable development of the nickel industry.

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