Indonesia will be at the centre of nickel market developments in 2018, as a major producer of both NPI and stainless steel. Nickel ore exports from Indonesia will be greater than in 2017, given announced permits, which will support greater NPI production in China. Meanwhile, Indonesian NPI output will also rise, with much of this going into stainless produced at Tsingshan Indonesia. Tsingshan's exports of this stainless will put mills around the world under pressure. And all the while, the nickel-for-EV battery story will gather momentum.