Indonesia Nickel Move May Cut Global Supply 35%, Macquarie Says

From Finance Yahoo

Potential cuts to Indonesian nickel mine output could remove more than a third of global supply from the market, according to Macquarie Group Ltd., presenting a significant upside risk to prices.

The Indonesian government is weighing deep cuts to nickel mine quotas from 272 million tons in 2024 to as low as 150 million tons this year, Bloomberg reported last month. That would be 40% lower than Macquarie’s base case, leading to a drastic reduction in output of the battery metal.