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Nickel prices continue to remain low, Indonesia claims to be controlling production capacity to balance market supply and demand.
On Friday (October 18) local time, Indonesian Energy and Mineral Resources Minister Bahlil Lahadalia stated that the country is controlling the quantity of nickel ore produced by its mining companies to balance market supply and demand.
Nickel prices continue to fall, analysts say Indonesia's dominance may further strengthen
① The long-term downturn in nickel prices is testing global nickel producers. They face the risk of large-scale mine closures, which may strengthen Indonesia's dominant position in global supply; ② With global oversupply becoming increasingly serious, nickel prices have fallen by more than 40% over the past year. In the face of high operating costs, the sharp drop in nickel prices had the biggest impact on new projects outside Indonesia.
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