【SMM Nickel Flash】Kejagung Probes PT CNI Over Alleged Nickel Grade Manipulation

Indonesia has relaxed the DHE SDA (Natural Resources Export Proceeds) rules effective 1 September 2026. Eligible mining exporters may retain at least 30% of their export proceeds domestically for a minimum of three months, compared with the previous 100% retention requirement. The relaxation applies to qualifying mining companies, including those with at least one shareholder from a designated trade-agreement country holding a minimum 10% stake. 64 mining companies reportedly meet the requirements under Article 18A. The policy is expected to improve liquidity and reduce the working-capital burden for eligible exporters while still keeping part of export proceeds in Indonesia.

[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.