‘The Opec of nickel’: Indonesia’s control of a critical metal

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The story "‘The Opec of nickel’: Indonesia’s control of a critical metal" was covered 15 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 15h ago

‘The Opec of nickel’: Indonesia’s control of a critical metal - Financial Times

Quick Summary:

Some have also criticised the London Metal Exchange, the world centre for the trading of industrial metals, for allowing a large number of new Chinese and Indonesian nickel producers to supply its global network of warehouses following the 2022 nickel crisis.

Huge investments came from Chinese steel, nickel and battery manufacturers, including Tsingshan, CATL and Lygend, who partnered with Indonesian mining companies to set up processing facilities.

Eramet, a French miner operating in Indonesia, admitted last year that it has become virtually impossible for western companies to run profitable nickel processing operations without China’s help.