SHANGHAI, Sep 12 (SMM) –On September 11, SMM ushered in a critical moment in the development of Indonesia's nickel industry! Meidy Katrin, secretary-general of the Indonesia Nickel Miners Association (APNI), paid a visit to SMM's Shanghai headquarters, and engaged in-depth exchanges with SMM on how to release the Indonesian nickel industry price index, establish a big data system, and conference cooperation in the future, among others.

Meidy Katrin met with SMM CEO Fan Xin, Senior Vice President Lu Jialong, Business Unit GM Wang Cong, Nickel Product Director Zhang Lingying, Nickel Product Marketing Director Wu Chenyu, and Overseas Sales Manager Li Fan. During this visit, the APNI has better understood and spoken highly of SMM’s global influence in pricing, big data, consulting, and conference events.

Left: APNI Chairman Nanan Soekarna

Right: SMM CEO Fan Xin

This strategic cooperation negotiation aims to support each other in the nickel, stainless steel, and new energy industry chain businesses, strengthen information exchange and resource sharing, and actively carry out market research, project cooperation, training, public lectures and other activities. Additionally, the APNI will assist SMM in launching the Indonesian Nickel Industry Price Index soon.

At the 2023 SMM Indonesia Nickel and Cobalt Industry Chain Conference held by SMM in Indonesia from May 30 to 31 this year, Mr. Septian Hario Seto, Indonesia’s Deputy Minister of Maritime Affairs and Investment Coordination/Mining Affairs, said that heightened volatility of nickel metal futures prices has had an enormous impact on the pricing of nickel products and is detrimental to industrial development. As an important participant in the nickel industry, it is vital for Indonesia to establish a nickel product spot price index to ensure that the nickel product market does not have just one index to refer to. The new index can be used in national policies such as Indonesia's export tariffs and domestic nickel ore pricing formulas.

Indonesian Coordinating Minister of Maritime Affairs and Investment Luhut Binsar Pandjaitan also stated at this conference that SMM will launch a nickel price index this year.

The strategic cooperation between APNI and SMM and the APNI’s role in helping SMM launch the Indonesian Nickel Price Index is of great significance! It not only means that the SMM price assessment system has been internationally recognized and signifies an acceleration in integrating with international standards, but is also a clear evidence of the Indonesian nickel industry’s growing influence and bigger say in the international market. Meanwhile, it will also build a bridge for the healthy development of the industrial chains in China and Indonesia and facilitate further development.