Nickel Falls to Nearly 6-Month Low as Indonesia Signals More Supply

2026-06-24 10:05 By Agna Gabriel 1 min. read

Nickel fell to $16,880 per tonne, nearing its lowest level since early January, as Indonesia prepares to permit a substantial increase in nickel mine production later this year.

The Energy and Mineral Resources Ministry has privately indicated plans to raise total mining quotas, known as RKABs, to 360 million tons from the 260 million tons issued in the first half.

While subject to final approval, this relaxation reverses the strict quota tightening implemented at the start of the year, which had previously caused prices to surge.

Indonesia accounts for about 60% of global nickel production following heavy Chinese investment.

Local smelters require these increased supplies to feed new processing plants, especially after major producers were forced to suspend output upon exhausting their previous allocations.

However, challenges remain, as producers may struggle to quickly ramp up operations amid persistent heavy rainfall.



News Stream
Nickel Falls to Nearly 6-Month Low as Indonesia Signals More Supply
Nickel fell to $16,880 per tonne, nearing its lowest level since early January, as Indonesia prepares to permit a substantial increase in nickel mine production later this year. The Energy and Mineral Resources Ministry has privately indicated plans to raise total mining quotas, known as RKABs, to 360 million tons from the 260 million tons issued in the first half. While subject to final approval, this relaxation reverses the strict quota tightening implemented at the start of the year, which had previously caused prices to surge. Indonesia accounts for about 60% of global nickel production following heavy Chinese investment. Local smelters require these increased supplies to feed new processing plants, especially after major producers were forced to suspend output upon exhausting their previous allocations. However, challenges remain, as producers may struggle to quickly ramp up operations amid persistent heavy rainfall.
2026-06-24
Nickel Hits Over 2-Month Low
Nickel traded around $17,200 per tonne, falling to its lowest level in over two months, as investors extended profit-taking after a rally above $19,600 in early May. Sentiment weakened further as momentum-driven positioning unwound. Additional pressure came from soft demand conditions in China, where nickel salt transactions remained sluggish and stainless steel output showed limited improvement, while elevated exchange inventories reinforced oversupply concerns in the near term. However, supply-side uncertainty in Indonesia provided some offset, as tighter mining quotas, rising fiscal and regulatory scrutiny, and adjustments to benchmark pricing have raised questions over future output growth. Reports of Chinese-backed investors exploring alternative nickel projects outside Indonesia further highlighted potential shifts in investment flows and longer-term supply constraints.
2026-06-23
Nickel Hits 10-week Low
Nickel decreased to 17501.00 USD/T, the lowest since April 2026. Over the past 4 weeks, Nickel lost 6.18%, and in the last 12 months, it increased 17.58%.
2026-06-23