Shuangchuang Futures: Indonesia Nickel Tailings Storm, Nickel Prices Rebound Slightly

K-LinePoet · 2026-03-19T03:49:21+00:00

Indonesia's IMIP industrial park has experienced partial production shutdowns at smelting enterprises due to landslides, with an expected stoppage of several weeks affecting 150,000 tonnes of nickel production. Nickel prices rebounded to near 140,000 after a sharp decline and still require attention to Indonesian supply dynamics. Nickel prices are expected to maintain oscillation between 130,000-140,000.

K-LinePoet

2026-03-19 03:49:21

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Overseas conflicts have eased, but a landslide occurred in the tailings treatment area of the IMIP industrial park in Indonesia. Some smelting companies have shut down for maintenance. The combined capacity of the four projects is 150,000 tons of nickel metal, and they are expected to be offline for several weeks. After a sharp decline yesterday, nickel prices began to rebound, reaching nearly 140,000 yuan today, with an increase of almost 3%, though there is some resistance at higher levels. In terms of impact, attention still needs to be paid to changes in Indonesia. As Indonesia implements supply tightening for nickel, although there may be a secondary increase in July, we believe this mainly targets new capacity and does not affect already operational capacity. However, previous overproduction behaviors will be curbed. We currently expect nickel prices to fluctuate between 130,000 and 140,000 yuan, and if market confidence recovers, prices could test 140,000 yuan. (First Capital Futures)

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