Morning Bites (part 2)

🏭Several nickel processing plants in Indonesia halted production after a landslide in mid-February, Bloomberg reports. The incident affected four facilities at the Morowali Industrial Park, jointly accounting for 30% of Indonesia’s HPAL capacity, with their suspension potentially lasting as long as three months

On our numbers, the affected HPAL plants accounted for ~5% of Indonesian Ni supply in 2025 (and ~3% of global production). However, we remind readers that Ni market remains in a significant surplus (~8% of global demand in 2025), so the positive effect on sentiment is likely to be limited, in our view

#nickel