Steel News

We strive to let you one step ahead of the market.

Tesla to buy nickel products from Indonesian producers in future five year

9 Aug 2022 15:52 reported by Hao Hung

A A A
According to a report, Tesla Inc., the US electric vehicle manufacturer, has signed contracts with two Indonesian nickel producers. The contract is worth US$5 billion.

According to Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, in an online conference, “The contracts are applicable for five years with two companies operating in the central Sulawesi province.

Indonesia is now one of the biggest nickel producers in the world and is trying to become a leader in the electric vehicle (EV) battery industry. The country has welcomed Tesla to pour investment in the local nickel industry and supply chain of EV batteries in Indonesia.

According to data from the Ministry of Energy and Mineral Resources, As of January 2020, Indonesia reserved 72 million tons of nickel ore, which accounts for 52% of the total amount of nickel reserves on earth.

Back to Steel News

Related News

Global iron ore production expected to rebound in H2, keeping flat in 2022 y-o-y

  • Raw material
  • 23 Sep 2022 16:16

China’s iron ore price index hikes on Sep 22

  • Raw material
  • 23 Sep 2022 15:49

WBMS: Global nickel supply has shortage of 48,000 tons in Jan-Jul 2022

  • Raw material
  • 23 Sep 2022 15:42

LG Energy Solution inks lithium & cobalt purchasing agreements with 3 Canadian miners

  • Raw material
  • 23 Sep 2022 15:41

China’s iron ore price index decreases on Sep 21

  • Raw material
  • 22 Sep 2022 13:30

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 3,131.00
  • 3,119.00
  • Aluminum
  • 2,195.00
  • 2,214.50
  • Copper
  • 7,814.00
  • 7,735.00
  • Nickel
  • 24,520.00
  • 24,555.00

Learn more

Coil Exchange Center

  • 2B Coil-Oct
  • 3,030
  • 2,890
  • NO1 Coil-Oct
  • 3,000
  • 2,860
  • 2B Coil-Oct
  • 3,030
  • 2,890
  • NO1 Coil-Oct
  • 3,000
  • 2,860

Learn more