Vale maintains output target despite rising price trend

By Tri Subhki R

IDX-listed integrated nickel producer PT Vale Indonesia Tbk maintains its output target of 80,000 tons nickel in matte this year despite latest rising trend in the price of the commodity.

Nickel price rose up to US$11,740 per ton on Friday due to expected supply deficit in global market. However, Vale stated that the company keeps monitoring the price trend.

"We are analyzing the price as it does not represent long term macro condition," Vale's Senior Communication Manager, Bayu Aji, said to Petromindo on Friday.

Bayu added that Vale keeps the indicative production target at 80,000 tons nickel in matte this year. "The company tries to achieve the target," he said.

Editing by Reiner Simanjuntak