Nickel supply deficit projected over Indonesia policy uncertainty, Iran war
Commodities
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A high-pressure acid leach (HPAL) smelter run by Harita Nickel on Obi island, Indonesia. HPAL smelters process nickel ore into materials for electric vehicle batteries. (Photo by Dimas Ardian)
JAKARTA — The global nickel market is likely heading toward its first supply deficit in five years, as rising policy uncertainty in Indonesia, the largest producer, and disruption to sulfur supplies due to the Iran war are casting a downward outlook on production.
