[SMM Analysis: Turbulent Changes in the Nickel Ore Market This Week?]
Recently, the global nickel ore market has experienced some significant changes, particularly in Indonesia and the Philippines, where industry dynamics have drawn considerable attention.
First, the monthly benchmark price of Indonesian domestic trade laterite nickel ore saw a slight decline in January 2025, down approximately 1.03% MoM from December 2024. This trend was mainly influenced by weak LME nickel prices. In addition, although the premium price of Indonesian domestic trade laterite nickel ore remained at $15-16/wmt, a small portion of medium-grade nickel ore or ores with impurities has started to trade at a lower price of $14/wmt. This indicates a divergence in demand for nickel ore of different grades in the market and suggests that the CIF price of Indonesian domestic trade laterite nickel ore in January may experience slight fluctuations.
