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Indonesia’s NPI production jumped 20% in 2023, but may drop in...

  1. ccdavid
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    11/01/24
    18:39
    Post #: 71837854

    Indonesia’s NPI production jumped 20% in 2023, but may drop in January 2024

    iconJan 11, 2024 13:35

    Source:SMM
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    Indonesia's December 2023 NPI production reached 128,700 mt in nickel content, up 1.06% MoM and 24.3% YoY.

    Indonesia's December 2023 NPI production reached 128,700 mt in nickel content, up 1.06% MoM and 24.3% YoY. The annual total was 1,375,600 mt, up 19.9% YoY. This aligns with SMM's predictions, and in December, Indonesian medium and high-grade nickel ore premiums normalized. High-grade NPI smelting costs in Indonesia fell, and with December's NPI price rebound, Indonesian NPI plants' profits grew, contrasting with Chinese plants' narrowing losses. This let Indonesia keep normal scheduled production. New capacity in December boosted high-grade NPI output. January's production is expected to stay around 126,700 mt in nickel content, down 1.59% MoM.


    NIC Price at posting: 64.5¢ Sentiment: Buy Disclosure: Held
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