Indonesia is considering a moratorium on new nickel smelters to address global overproduction and protect its minerals sector, a move that could significantly disrupt Chinese investors who account for roughly 75 percent of Indonesia's nickel refining industry. The proposed restrictions would target semi-finished products like nickel pig iron and nickel matte, which comprise 50-60 percent of Indonesia's output and are used in stainless steel and electric vehicle batteries. Energy Minister Bahlil Lahadalia is preparing recommendations for President Prabowo Subianto on which smelting segments should be restricted.