[SMM Nickel Flash News] Indonesia Nickel Ore Update 18 August 2026

Published: Aug 18, 2026 15:23

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Daily Price Update — August 18, 2026

Indonesian nickel ore CIF average prices strengthened across all three grades:

1.4% Ni: CIF average price rose from $52.6/wmt to $53.3/wmt, up $0.7/wmt.

1.5% Ni: CIF average price rose from $60.0/wmt to $60.8/wmt, up $0.8/wmt.

1.6% Ni: CIF average price rose from $64.9/wmt to $65.8/wmt, up $0.9/wmt, the largest increase among the three grades.

Premium: Market players verified that the premium remained stable compared with the first half of August, with no significant change in the prevailing premium level.

Overall: CIF average prices increased by $0.7–0.9/wmt, indicating a moderate firming in Indonesian nickel ore prices, while premium levels remained steady.

Indonesia Policy Update

Indonesia’s planned Mineral and Strategic Commodities Exchange remains the key recent policy development relevant to the nickel market. The exchange is expected to cover nickel, coal and palm oil, with operations targeted for January 1, 2027, aiming to establish domestic reference prices for strategic commodities.

Nickel impact: The exchange could strengthen Indonesia’s influence over nickel price formation and domestic benchmarks, potentially increasing the role of Indonesian reference prices in international nickel trade.

Latest development: State Secretary Minister Prasetyo Hadi said on August 17 that preparations for the exchange are underway. The platform is tentatively referred to as Icomex.

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.

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