According to Septian Hario Seto, the Deputy Minister of the Coordinating Ministry for Maritime and Investment Affairs of Indonesia, nickel prices on the London Metal Exchange (LME) should remain around US$15,000 to US$16,000 per ton in the short to medium term. There will be another 928,000 tons per year of capacity over the next three years, most of which will used in electric vehicles.

Seto said that the Indonesian government believed that nickel prices would remain stable near current levels in the future. It is considering changes to its policy of providing a nickel tax holiday program, which has been a major incentive for foreign investors to build factories in the country. The existing tax holidays might be extended with a higher rate.