Chinese nickel investors brace for headwinds as Indonesia weighs smelter freeze
Por Ralph Jennings — South China Morning Post – News feed
Advertisement Chinese offshore investment Economy Global Economy Chinese nickel investors brace for headwinds as Indonesia weighs smelter freeze
Jakarta's proposed restrictions could reshape the foreign-backed supply chains feeding critical sectors, from stainless steel to electric vehicle batteries
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Ralph Jennings Published: 5:00pm, 10 Oct 2026
Chinese investors could face significant disruption if Indonesia imposes a moratorium on new nickel smelters to curb global overproduction and protect local industries across its vast minerals sector, analysts said.
Indonesia was weighing a halt to the construction of smelters that produce semi-finished nickel products amid a global supply glut that had driven down commodity prices, state news agency Antara reported, citing energy and mineral resources minister Bahlil Lahadalia.
Semi-finished products, including nickel pig iron and nickel matte, make up about 50 to 60 per cent of Indonesia’s total output, Antara reported. The proposed restrictions were part of the energy minister’s efforts to strengthen the country’s industrial structure, it added.
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