【SMM Nickel Flash】Indonesia Nickel Ore Daily Price Update — September 22, 2026

Published: Sep 22, 2026 19:38 (GMT+8)

Source: SMM

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Indonesian nickel ore delivered to main Indonesian ports:

1.2% Ni: $26.5/wmt, down $0.5/wmt from the previous assessment.

1.4% Ni: $51.8/wmt, unchanged.

1.5% Ni: $58.5/wmt, unchanged.

1.6% Ni: $63.4/wmt, unchanged.

Market update:

Indonesia's nickel ore market remains focused on the gradual release of additional 2026 RKAB approvals. Some supplementary quotas have started entering the market, but the government has not announced a final national additional quota. Meanwhile, the revised HPM formula effective September 15 has lowered the benchmark for low-grade limonite, with 1.2% Ni HPM at $24.89/wmt, below current market prices.

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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