According to market sources, a total of 107 nickel mines were said to have passed the RKAB approval, with a combined approved mining quota of around 150 million wmt. The quotas approved are expected to reach 200 million wmt by end March or early April based on the current progress. The nickel ore supply crunch triggered by RKAB approval disruption has been properly addressed.
Based on Mysteel data, the nickel ore consumption in Indonesia amounted to around 200 million wmt in 2023. The volume is projected to jump with more nickel products production lines coming on stream in 2024.
Written by Aggie Hu, huchenying@mysteel.com
