Indonesia may impose a tax on nickel exports this year as the biggest producer of the electric-vehicle battery metal looks to refine more at home.

The world’s epic shift into EVs has spurred a surge in demand for battery metals including nickel, lithium, and cobalt. While Indonesia has benefited from rising nickel prices, Jokowi wants the nation to move up the EV supply chain. Ultimately he wants to stop all exports of raw materials and increase refining at home.

This could lead to a long-term price increase for Nickel prices as Indonesia is the world's largest producer of Nickel.

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Source:iSquare​