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Chinese Nickel Miners in Indonesia Cut Output Amid Price Crash

Chinese-owned nickel mines in Indonesia are poised to cut output by at least 100,000 metric tons this year in a bid to boost prices of the precious metal used to manufacture batteries for electric vehicles.

Chinese and other mining companies in Indonesia have flooded the market in recent years, creating a supply glut that has sent prices tumbling from more than $100,000 a ton to around $16,000 a ton.

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