SMM Data: Battery-Grade Nickel Sulphate Price Drops 20 Yuan/mt on July 9

Indonesia has strengthened oversight of its value-added nickel industry under Ministry of Finance Decree No. 32/MK/BC/2026, implementing Minister of Trade Regulation No. 17/2026. The regulation imposes stricter export controls on HS Code Ex. 7202.60.00, covering ferronickel (FeNi) ingots and lumps (≥8% Ni), Sponge FeNi and Nugget FeNi (≥4% Ni), and low-grade FeNi products (2% ≤ Ni < 4%, Fe ≥75%), including certain Nickel Pig Iron (NPI) products. Exporters must obtain mandatory Surveyor Reports (LS) and export authorizations, while from 1 January 2027, exports will generally be limited to state-owned export enterprises (BUMN Ekspor), subject to approved exemptions.

According to SMM, Indonesian stainless steel export offers have seen a sudden downward adjustment, with prices falling by more than $50/mt from previous levels. This round of price cuts reflects still-weak overseas demand, stronger price pressure from buyers in some regions, and Indonesian exporters’ willingness to offer concessions after holding firm earlier, in an effort to stimulate transactions.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 09 Jul , 2026