[SMM Nickel Market Flash] IMIP Expands Solar Power Across Nickel and Steel Operations

IMIP said solar power cannot yet fully replace fossil energy across the industrial park, but will serve as an important part of a more diversified and efficient energy system. PT PMMI is nearing completion of a 0.57 MWp solar installation, while PT QMB is assessing solar deployment options. IMIP said tenants are adopting different models, including rooftop and canal-top solar systems, depending on site conditions.

On September 29, the average price of SMM #1 refined nickel was 124,700 yuan/mt, down 1,000 yuan/mt from the previous trading day. In terms of spot premiums, the average premium for Jinchuan #1 refined nickel was 3,700 yuan/mt, down 100 yuan/mt from the previous trading day, while mainstream domestic electrodeposited nickel brands ranged from -200 to 500 yuan/mt.

Indonesia's nickel ore production reached 173.79 million mt as of September 1, 2026, according to data from the Energy and Mineral Resources Ministry (ESDM). Full-year nickel ore production stood at 320.37 million mt in 2025. Meanwhile, nickel-related non-tax revenue (PNBP) reached Rp21 trillion through August 31, more than double the Rp10 trillion recorded during the same period last year. ESDM said the government's focus is shifting toward optimising production in line with market demand, prices, logistics and reserve sustainability. The production data provides an indication of actual physical ore supply as Indonesia gradually releases additional 2026 mining quotas. With downstream nickel-processing capacity requiring substantially more ore, market attention remains focused on whether production and shipments can keep pace with smelter demand.