Vale Indonesia has announced a suspension of nickel mining operations as its work plan for this year has yet to receive official approval. This move has sparked market concerns, and nickel prices are expected to fluctuate again in the short term.

However, Vale Indonesia responded optimistically, stating that it expects regulatory approval to be issued soon, and emphasized that the delay will not affect the sustainability of its overall operations and its medium- to long-term capacity planning.

However, LME nickel futures prices reversed course and rose on December 2, returning to above US$16,800/ton.