【Indonesia's Local Ore Benchmark Price-HPM】If the calculation method for the second half of April's Indonesia's local ore HPM remains unchanged, the second period HMA in April will decrease by $586.65/mt MoM from the first period HMA in April, down 3.6% MoM.
SMM expects the benchmark price (HPM) for Indonesia's local ore in the second half of April to be:
Ni1.2% grade ore HPM price at $15.76/wmt, down $0.59/wmt from the first period HPM in April;
Ni1.6% grade ore HPM price at $27.47/wmt, down $1.04/wmt from the first period HPM in April;
Ni1.7% grade ore HPM price at $30.91/wmt, down $1.17/wmt from the first period HPM in April;
Ni1.8% grade ore HPM price at $34.54/wmt, down $1.3/wmt from the first period HPM in April;
Ni1.9% grade ore HPM price at $38.38/wmt, down $1.45/wmt from the first period HPM in April;
Ni2.0% grade ore HPM price at $42.42/wmt, down $1.6/wmt from the first period HPM in April.
The HMA and HPM prices for the second period of April will be officially announced and implemented by ESDM on April 15.
Additionally, affected by the significant decline in global nickel prices and macro disturbances from the expected implementation of the PNBP policy, mines and smelters are renegotiating the April premium to balance the interests of both parties.
