Tag: nickel surplus 2025

Market shifts from surplus to deficit year-on-year Indonesia policy reset reshapes global cost curve A market that entered 2026 burdened by a 283,000-tonne surplus is being reshaped-quarter by quarter – by Indonesian quota cuts, a revised ore-pricing benchmark, and a demand mix increasingly split between stable stainless steel and a slowing battery-chemistry shift. Nickel’s 2026…