SMM Data Shows Drop in Battery-Grade Nickel Sulphate Prices on October 12

Indonesia launched 11 downstream projects worth US$10.2 billion at Indonesia Weda Bay Industrial Park (IWIP), North Maluku, on October 8, 2026, alongside the country's first EV battery export. The programme includes four projects entering commercial operations and seven beginning construction. The operational projects are PT Blue Sparking Energy, PT REPT Battero Indonesia, PT Pioneer Aluminium Industries, and PT XCMG Indonesia Manufacturing. The seven new projects are PT Guang Ching Nickel Cobalt, PT Inno Prima Material, PT Tinci Materials Indonesia, PT Weda Bay Aluminium, PT Bintang Karya Aluminium, PT Flat Solar Energy Indonesia, and PT Foton Guangqing Motor Indonesia, covering nickel and cobalt processing, battery materials, aluminium, photovoltaic glass, and electric vehicles.

Nippon Steel has cut October prices across all stainless products as a stronger yen reduced alloy procurement costs. It is the third straight cut for 300-series grades and the first in four months for 400 series, with the nickel benchmark at an eight-month low. The move contrasts with October increases by mills in Taiwan (PoC).

Klöckner & Co has agreed to sell Becker Group, a European distributor of steel, stainless and aluminium products, to a consortium of Accura Investment Partners and BCB, with closing expected by end-2026. The price was not disclosed. The sale fits Klöckner’s shift toward higher value-added business, as weak demand, tighter quotas and CBAM costs squeeze traditional distribution margins.