[SMM Nickel Flash News] Indonesia Update — August 24, 2026

Published: Aug 24, 2026 15:34

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Indonesian nickel ore CIF average prices remained unchanged across all three grades:

1.4% Ni: CIF average price at $53.3/wmt

1.5% Ni: CIF average price at $60.8/wmt

1.6% Ni: CIF average price at $65.8/wmt

Indonesia Policy Update — August 24, 2026

The Indonesian nickel ore market remains in a wait-and-see period, with the market closely monitoring further RKAB approvals and potential quota adjustments.

Meanwhile, the government has delayed the implementation of the planned windfall tax, while further details on the policy remain under discussion.

Weather conditions across major nickel-producing regions remain generally manageable, although localized heavy rainfall could still cause temporary disruptions to mining and logistics.

The market is also waiting for a potential revision to the HPM formula for limonite ore. Any changes to the pricing mechanism, particularly the treatment of associated metals and corrective factors, could affect limonite pricing and HPAL feedstock economics.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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