TEMPO.CO, Jakarta - Nickel prices have stabilized at US$17,000 per ton after Indonesia cut nickel production volumes, according to the country's Ministry of Energy and Mineral Resources.
"The prices reached US$18,600 per ton, then stabilized at around US$17,200–US$17,400 (per ton)," said Tri Winarno, the ministry's Director General of Minerals and Coal, at the "Unlocking Growth in the Middle Income Trap" event in Jakarta on Tuesday, April 7, 2026, as quoted from Antara.
Over-supplies of about 200,000 to 250,000 tons of nickel have previously caused the prices to plunge into the levels of US$14,000-15,000 per ton. "That's why the global nickel prices were stagnated," said Tri.
Since Indonesia announced it would control nickel production on December 23, 2025, Tri said the global nickel prices were up immediately after.
Hopefully, Tri said, the production control implemented by the Ministry of Energy and Mineral Resources will prevent nickel oversupply, thereby improving the price of this mining commodity.
"Around 65 percent of nickel supply comes from Indonesia. That's why we're trying to make Indonesia a price-determining player," Tri said.
When met at the Ministry of Energy and Mineral Resources office in Jakarta on Monday, Tri stated that the current nickel production volume approved by the government for 2026 is in the range of 190-200 million tons.
The nickel production quota set by the Ministry of Energy and Mineral Resources for 2026 has dropped to 250-260 million tons, compared to the 2025 Work Plan and Budget (RKAB) of 379 million tons.
The cuts are based on the imbalance between supply and demand for coal and nickel in the international market, particularly through 2025.
Read: Indonesia to Increase Nickel Benchmark for State Revenue
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