[SMM Nickel Flash News] Indonesia Update — August 26, 2026

Published: Aug 26, 2026 12:32

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Indonesian nickel ore CIF average prices remained unchanged across all three grades:

· 1.4% Ni: CIF average price at $53.3/wmt

· 1.5% Ni: CIF average price at $60.8/wmt

· 1.6% Ni: CIF average price at $65.8/wmt

The Indonesian nickel ore market remains in a wait-and-see period, with the market monitoring further RKAB approvals and potential quota adjustments.The government has confirmed that no nickel export duty or windfall tax will be imposed in 2026, while policy discussions for 2027 remain ongoing. Meanwhile, water shortages in Luwu, South Sulawesi, are affecting certain industrial operations, with limited water and power availability causing some nickel-related facilities to reduce operating rates, posing a localized supply risk.Weather across major nickel-producing regions remains generally manageable, although localized heavy rainfall may still temporarily disrupt mining and logistics. The market is also awaiting a potential HPM formula revision for limonite ore, which could affect limonite pricing and HPAL feedstock economics.

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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