Indonesian Nickel Prices Fall, Cobalt Rises on May 15

Published: May 18, 2026 14:19
According to SMM data, on May 15, the FOB price of Indonesian MHP nickel fell by $80/mt Ni from the previous day, while the FOB price of Indonesian MHP cobalt rose by $1/mt Co. The FOB price of Indonesian high-grade nickel matte fell by $81/mt Ni from the previous day.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
Common.Time.minsAgo
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
Read More
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies
[SMM Nickel Flash] On May 18, futures continued to decline, and market pessimism spread. Upstream suppliers mostly maintained high offer prices, but actual transactions were scarce, with some softening in quoted prices. Downstream steel mills adopted a more cautious purchasing stance, mostly referencing steel scrap price ratios, with mainstream intended bids concentrated at 1120-1130 yuan/nickel unit, showing a clear divergence from upstream offers. Under the short-term downward trend, both upstream and downstream pricing sentiment remained cautious, further suppressing spot transaction activity.
Common.Time.minsAgo
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
Common.Time.minsAgo
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
Read More
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
SMM Nickel Flash: High-Grade NPI Market Sentiment Declines, Futures Weaken and Prices Drop
[SMM Nickel Flash] May 18 — The SMM high-grade NPI market sentiment indicator was 2.74, down 0.08 MoM; the high-grade NPI upstream sentiment indicator was 3.25, down 0.09 MoM; the high-grade NPI downstream sentiment indicator was 2.24, down 0.06 MoM. Today, the high-grade NPI market was dragged down by weakening futures, presenting an overall pattern of firm upstream offers, stagnant transactions, and a declining price center, with the price spread between high and low grades staying high.
Common.Time.minsAgo
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
Common.Time.hoursAgo
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
Read More
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
[SMM Stainless Steel Flash] Japanese Stainless Steel Mill Hikes May Prices
Driven by rising alloy costs, Nippon Steel Stainless Steel (NSSC) raised its May prices for 300-series stainless steel by JPY10,000/ton and 400-series by JPY5,000/ton. May benchmark prices for nickel and chromium were raised to US$7.96/lb and US$1.63/lb, up 2.6% and 1.8% respectively.
Common.Time.hoursAgo