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Indonesia has been taking drastic steps to boost prices of its biggest export commodity, largely through scaling back volumes that key miners are allowed to produce. Before the latest round of cutbacks, supply from the country had risen to about two-thirds of global production, creating a surplus.

The country will issue production quotas of between 260 million and 270 million tons of nickel ore this year, Director General of Minerals and Coal Tri Winarno said. That’s slightly above a previous estimate of 250 million to 260 million tons, but well below the 379 million tons targeted in 2025.

Though higher than the earlier estimate, volumes below 270 million tons are still seen as bullish for prices, said Fan Jianyuan, an analyst with Shanghai-based consultancy Mysteel Global, adding that quota issuance should be completed by March.

Read more at: https://www.bloomberg.com/news/articles/2026-02-11/nickel-extends-gains-as-indonesia-reaffirms-sharp-mining-cuts