Indonesia's Ministry of Energy and Mineral Resources (ESDM) has officially released the benchmark mineral price (HMA) for the second half of July 2026. The HMA for this period is as follows: nickel price at US$16,533.67/tonne (down from US$17,593.33/tonne in the first half of July 2026), representing a decrease of US$1,059.66/tonne, or 6.02%. Meanwhile, the benchmark prices for other minerals are: cobalt at US$55,863.00/tonne, iron ore at US$1.44/tonne, and chromite ore at US$6.37/tonne.
According to SMM's internal calculation model, based on simulations for pyrometallurgical ore (20% Fe, 1% Cr, 0.05% Co) and hydrometallurgical ore (45% Fe, 2% Cr, 0.10% Co), the benchmark nickel ore prices (HPM) for different grades have changed as follows:
- Ni 1.2%: US$45.25/wmt (down US$2.15)
- Ni 1.3%: US$49.44/wmt (down US$2.42)
- Ni 1.4%: US$53.60/wmt (down US$2.97)
- Ni 1.5%: US$58.23/wmt (down US$3.27)
- Ni 1.6%: US$63.06/wmt (down US$3.58)
