【SMM Nickel Flash】Indonesia Relaxes DHE SDA Rules, Easing Cash-Flow Pressure for Eligible Mining Exporters

Indonesia’s Attorney General’s Office (Kejagung) is investigating PT Ceria Nugraha Indotama (CNI) over alleged nickel grade manipulation and exports without a valid RKAB during 2017–2019 in Southeast Sulawesi. Investigators allege that test results and export documents were manipulated to meet export requirements, with estimated state losses of Rp401.65 billion. The case highlights tighter scrutiny of nickel grade verification, export documentation and RKAB compliance, potentially increasing compliance requirements for miners and exporters.

[9.1 Morning Meeting Minutes] Fed Chairman Warsh: Inflation data do not show significant improvement in the trend; the Fed's primary focus at present should be prices; we must be convinced that underlying inflation is moving toward the target, otherwise we still have work to do. It is difficult to describe financial conditions as restrictive. Market pricing shows that the probability of a Fed rate hike in September is higher than the probability of keeping rates unchanged. The most-traded SHFE nickel 2610 contract continued to consolidate at lows in early trading, closing the morning session at 126,750 yuan/mt, down 1.13%. Rising expectations for US Fed interest rate hikes, a stronger US dollar, high inventory, and weak demand are creating multiple pressures. In the short term, the most-traded SHFE nickel contract is expected to trade in the range of 126,000-131,000 yuan/mt.