[SMM Nickel Flash News] Indonesia Update — October 9, 2026

Indonesian nickel ore prices remained unchanged on October 9, according to SMM:

1.2% Ni limonite: $25.5/wmt, unchanged

1.3% Ni limonite: $27.5/wmt, unchanged

1.4% Ni saprolite: $48.7/wmt, unchanged

1.5% Ni saprolite: $54.2/wmt, unchanged

1.6% Ni saprolite: $59.0/wmt, unchanged

Prices are on a CIF Indonesia destination-port basis. Despite stable spot assessments, market sentiment remained weak amid lower nickel prices, reduced HMA and HPM benchmarks, increased ore availability following additional RKAB quota releases, and negative premiums for mainstream saprolite. Cautious smelter procurement may continue to weigh on upstream pricing.