The global nickel market is expected to remain in surplus next year as the output of low-grade nickel pig iron (NPI) will continue to grow in Indonesia, Sumitomo Metal Mining said on Thursday. The surplus will widen to 36 000 t from 24 000 t this year as Indonesia's NPI production will increase by 10.3% to 1.27-million tons, after a 16.1% rise in 2023, Japan's biggest nickel smelter said during their half-year market outlook presentation.
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