This market tracks 2026 nickel production from PT Weda Bay Nickel.

Measurement date: December 31, 2027

Resolution:

• YES if: 2026 nickel production from PT Weda Bay Nickel ≥ 12 million wet metric tonnes on 2027-12-31

• NO if: 2026 nickel production from PT Weda Bay Nickel < 12 million wet metric tonnes on 2027-12-31

Ministry of Energy and Mineral Resources (ESDM) Indonesia reports

PT Weda Bay Nickel's production quota has been limited to 12 million wet metric tonnes for 2026, down from 42 million, drastically reducing expected output. This reduction represents a significant supply contraction in global nickel production.

Rationale: Indonesia's drastic reduction in nickel production quotas for PT Weda Bay Nickel will significantly impact the global nickel supply, with a potential mid-teens slice of the market affected. This supply constraint could drive up prices and affect nickel sulfate premiums and high-Ni cathode plays.

Source: Article