[SMM Nickel Flash News] Indonesia Update — October 12, 2026

Published: Oct 12, 2026 15:07 (GMT+8)

Source: SMM

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Indonesian nickel ore prices remained unchanged on October 12,

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

Market outlook: Despite stable spot assessments, upstream sentiment remains weak amid additional RKAB quota releases, lower nickel HMA and HPM benchmarks, and negative premiums for mainstream saprolite. Cautious smelter procurement may continue to pressure ore prices.

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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