Indonesia eyes OPEC-style cartel for battery metals

Asked whether it had contacted other large nickel producers about the cartel idea, the investment ministry said it was still formulating a structure that it could propose. Any attempt to form a cartel to control global prices for nickel would be far from straightforward. Russia supplies a fifth of the high-purity nickel used in batteries, while Canada and Australia are also big producers. However, Indonesia is expected to be the biggest source of growth in the years ahead. Overseas reliance One complication is that Indonesia relies on foreign companies such as China's Tsingshan, the world's largest stainless steel producer, and…