Indonesia banned nickel ore exports and built an industry on top
Two smelters in 2014, fifty-nine by 2025. Processed-nickel exports up from under $1 billion a year to about $14 billion. Sixty percent of world production. The most cited industrial policy of the decade also crashed the price it depends on, and now the same state is cutting quotas to fix that.
Aug 15, 2026 · 8 min read