Indonesian Domestic Trade Ore Prices Expected to Drop Slightly in February

SMM expects that the benchmark price of Indonesian domestic trade ore in February will drop slightly, down approximately 2.66% MoM from January.

The benchmark price for mainstream nickel ore with NI1.2% is $15.46, expected to drop $0.42 MoM from January;

The benchmark price for NI1.6% is $26.96, expected to drop $0.74 MoM from January;

The benchmark price for NI1.7% is $30.32, expected to drop $0.83 MoM from January;

The benchmark price for NI1.8% is $33.89, expected to drop $0.93 MoM from January;

The benchmark price for NI1.9% is $37.65, expected to drop $1.03 MoM from January.

Currently, the mainstream transaction premium for Indonesian domestic trade ore remains at $15-17/wmt. Last week, the Indonesian nickel ore market was relatively active, with upstream and downstream actively negotiating orders. It is expected that the price of Indonesian domestic trade ore may remain stable and fluctuate upward in the future.