【SMM Flash News】

Published: Jul 17, 2025 10:47

Save

【SMM Flash News】The Indonesian Nickel Miners Association (APNI) has proposed revising the HPM (Government Benchmark Price) formula to include the economic value of iron in saprolite ore and cobalt in limonite ore, which have not yet been monetized. This adjustment could potentially increase the HPM by over 100%, depending on ore characteristics and extraction efficiency. APNI Secretary General Meidy Katrin Lengkey emphasized that this revision could enhance state revenue without raising royalty rates, while also benefiting mining companies through improved margins, increased reserves from lower cut-off grades, higher export value of downstream products like NPI and ferronickel, and incentivizing the development of extraction technologies. APNI also recommends updating the outdated corrective factor (CF) for ferronickel and shifting the pricing unit from US$/DMT to US$/ton of pure nickel or US$/nickel unit, to be in line with international market practices. APNI urges the Ministry of Energy and Mineral Resources (ESDM) to promptly form a joint industry team to revise the HPM formula, ensuring it reflects current production costs and market values, thereby protecting local miners facing financial pressures.

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 for 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

14 hours ago

Data: SHFE, DCE market movement (Jul 06)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 06 Jul , 2026

14 hours ago

[SMM Analysis] H1 '26 Sulfur Industry Chain Review: Extreme Volatility Under Supply Shocks.

The essence of this supply crunch is a "three-layered squeeze": Layer 1: Physical cutoff – the Hormuz blockade severed Middle Eastern supply, halting nearly half of global seaborne trade. Layer 2: Policy lockdown – overlapping export bans from Russia, Kazakhstan, and Turkey blocked alternative supply sources, further tightening global tradable volumes. Layer 3: Capacity and inventory collapse – war-damaged Middle Eastern production facilities are slow to restart.

14 hours ago

16 hours ago

SMM Data: Battery-Grade Nickel Sulphate Price Drops 120 Yuan/mt WoW on July 6

According to SMM data, on July 6, the SMM battery-grade nickel sulphate average price fell 120 yuan/mt WoW from last Friday.

16 hours ago