Geopolitical events
On June 10, 2026, the Indonesian Parliament passed the "Downstream Mineral Integration Law," a landmark legislative framework mandating that all nickel and copper extracted within the country be processed in domestic smelters prior to export. The policy incorporates a $15 billion fiscal package to subsidize the development of high--tech processing facilities and battery component factories, aiming to elevate Indonesia's position in the global green energy value chain. President Prabowo Subianto characterized the law as a "strategic necessity for national economic sovereignty" and a move to capture higher macroeconomic value from the country's natural resources. This decision is expected to trigger significant recalibrations in global stainless steel and electric vehicle battery supply chains.