Jakarta, Oct. 7 -- Indonesia is considering a moratorium on new semi-finished nickel smelters to curb a global oversupply that has severely depressed commodity prices, Coordinating Minister for Downstreaming and Energy Transition Bahlil Lahadalia said Wednesday.

Bahlil Lahadalia, who also serves as Energy and Mineral Resources Minister, said current global nickel reserves and production capacity have resulted in an oversupply of approximately 2.5 million tons.

"There is an oversupply, which is why prices are falling. We might consider limiting the semi-finished goods industry-or even imposing a moratorium-while prioritizing industries that produce finished downstream products," Bahlil said on the sidelines of the Investor Daily Summit i...