Dozen Indonesian nickel smelters cease operations due to falling pricesStaff Writer | June 19, 2017
About a dozen newly constructed nickel smelters in Indonesia have stopped operations due to a plunge in nickel prices while others are operating at a loss, an industry association executive said.
Asia Nickel was trading at $8,975 per tonne
Three-month nickel touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10 percent so far this year.
The metal was trading at $8,975 per tonne on Monday at 0800 GMT. There are 12 other nickel smelters in Indonesia which have been able to carry on producing, but they have suffered from losses, Handojo added. ■