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Latest Update in the SMM Nickel Market

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Nickel Price

SMM Spot Price

SHFE

LME

SHFE/LME Ratio

Import Arbitrage

Price description

Price Range

Avg.

Change

Date

SMM #1 Nickel (USD/mt)

14,661.22-15,323.1

14,992.16

-43.71

Dec 05, 2025

#1 JinChuan Nickel (USD/mt)

15,285.63-15,323.1

15,304.37

-34.34

Dec 05, 2025

#1 JinChuan Nickel premium/discount (USD/mt)

599.44-624.41

611.92

0

Dec 05, 2025

#1 Import Nickel (USD/mt)

14,711.17-14,773.61

14,742.39

-34.34

Dec 05, 2025

#1 Import Nickel premium/discount (USD/mt)

24.98-74.93

49.95

0

Dec 05, 2025

Electro-deposited Nickel (USD/mt)

14,661.22-14,748.64

14,704.93

-37.46

Dec 05, 2025

Electro-deposited Nickel Premium (USD/mt)

(-24.98)-49.95

12.49

-3.12

Dec 05, 2025

Nickel Briquettes (USD/mt)

14,985.92-15,010.89

14,998.4

-34.34

Dec 05, 2025

SMM Indonesia Refined Nickel, FOB Indonesia (USD/tonne)

14,750-14,840

14,795

170

Dec 05, 2025

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Nickel markets & Index

Nickel Ore

Ocean Freight Rate for Nickel Ore

FeNi

NPI Price

Stainless Steel

Nickel Compound

Nickel Intermediates

Auxiliary Material for Nickel

Premium And Discount

Price description

Price Range

Avg.

Change

Date

Indonesia Laterite Nickel Ore 1.2% (delivered to destination port) (USD/wmt)

22-23

22.5

-0.5

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.3%（delivered to destination port） (USD/wmt)

24-25

24.5

-0.5

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.4%（delivered to destination port） (USD/wmt)

40.3-41.4

40.85

0

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.5%（delivered to destination port） (USD/wmt)

46.3-47.4

46.85

0

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.6% (delivered to destination port) (USD/wmt)

50.9-52.9

51.9

-0.6

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.2%（FOB） (USD/wmt)

15-17

16

0

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.3%（FOB） (USD/wmt)

17-19

18

0

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.4%（FOB） (USD/wmt)

32.3-34.3

33.3

0

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.5%（FOB） (USD/wmt)

37.3-39.4

38.35

0

Dec 05, 2025

Indonesia Laterite Nickel Ore 1.6%（FOB） (USD/wmt)

42.6-43.6

43.1

-0.7

Dec 05, 2025

Ni0.9%,Fe49%,Al≥7%,CIF,Philippines (USD/wmt)

28-30

29

0

Dec 05, 2025

Ni0.9%,Fe49%,Al<7%,CIF,Philippines (USD/wmt)

35-37

36

0

Dec 05, 2025

Ni1.3%,Fe15-25%,CIF,Philippines (USD/wmt)

41-43

42

0

Dec 05, 2025

Ni1.4%,Fe15-25%,CIF,Philippines (USD/wmt)

49-51

50

0

Dec 05, 2025

Ni1.5%,Fe15-25%,CIF,Philippines (USD/wmt)

56-58

57

0

Dec 05, 2025

Ni1.8%,Fe15-20%,CIF,Others region (USD/wmt)

77-80

78.5

0

Dec 05, 2025

Ni0.9%,Fe49%,Al≥7% FOB,Philippines (USD/wmt)

13-16.5

14.75

0

Dec 05, 2025

Ni0.9%,Fe49%,Al<7%,FOB,Philippines (USD/wmt)

24-25

24.5

0

Dec 05, 2025

Ni1.3%,Fe15-25%,FOB,Philippines (USD/wmt)

31-33

32

0

Dec 05, 2025

Ni1.4%,Fe15-25%,FOB,Philippines (USD/wmt)

41-43

42

0

Dec 05, 2025

Ni1.8%,Fe15-20%,FOB (USD/wmt)

68-71

69.5

0

Dec 05, 2025

Ni1.5%,Fe15-25%,FOB,Philippines (USD/wmt)

48-50

49

0

Dec 05, 2025

SMM the Philippines 1.3% Laterite Nickel Ore, CIF Indonesia (USD/mt)

42-44

43

0

Dec 05, 2025

SMM the Philippines 1.4% Laterite Nickel Ore, CIF Indonesia (USD/mt)

49-51

50

0

Dec 05, 2025

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Nickel News

[SMM Nickel Sulphate Daily Review] December 5th: Procurement Sentiment Remains Weak, Nickel Salt Prices Slightly Decline

On December 5, the SMM battery-grade nickel sulphate index price was 27,254 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,460-27,600 yuan/mt, and the average price slightly decreased compared to the previous day.

time

Dec 5,2025 13:21

[SMM Nickel Midday Review] Nickel Prices Dropped Slightly on December 5 as DRC and Rwanda Ended 30-Year Conflict

time

Dec 5,2025 11:47

[NPI Daily Review] High-Grade NPI Prices Slightly Decline, Yet Downside Room Limited

[SMM Daily Review: High-Grade NPI Price Edges Lower, Yet Downside Limited] Dec. 4 (SMM) - The average price of SMM 10-12% high-grade NPI stood at 881 yuan/mtu (ex-factory, tax included), down 0.5 yuan/mtu MoM from the previous working day.

time

Dec 4,2025 14:36

[SMM Analysis] Downstream Procurement Sentiment Remains Weak, Nickel Salt Prices Decline

Downstream Procurement Sentiment Remains Weak, Nickel Salt Prices Decline

time

Dec 4,2025 11:43

[SMM Nickel Midday Review] Nickel prices rose slightly on December 4, as US ADP employment decreased by 32,000 in November.

time

Dec 4,2025 11:33

[SMM Analysis] Sulfur Special Series - Introduction: Sulfur and Sulphuric Acid

time

Dec 3,2025 14:44

[SMM Nickel Sulphate Daily Review] December 3rd, Procurement sentiment remains sluggish, nickel salt prices have declined.

On December 3, the SMM battery-grade nickel sulphate index price was 27,287 yuan/mt, with the quotation range for battery-grade nickel sulphate at 27,490-27,630 yuan/mt, and the average price decreased compared to the previous day.

time

Dec 3,2025 11:45

[SMM Nickel Midday Review] Nickel prices rose slightly on December 3, as Trump hinted at the next head of the US Fed.

time

Dec 3,2025 11:32

[SMM Announcement] SMM NCM/NCA Black Mass Nickel, Cobalt, and Lithium Payables (FOB Malaysia) New Price Officially Launched Announcement.

time

Dec 2,2025 17:22

[SMM Nickel Midday Review] Nickel prices fluctuated rangebound on December 2, as the US November ISM Manufacturing PMI came in at 48.2.

time

Dec 2,2025 11:47

REAL-TIME QUOTE15 minutes delay

SHFE.NI2512, CNY/mt

117,560

+160(+0.14%)

Dec 05, 2025

SHFE.NI2601, CNY/mt

117,860

+130(+0.11%)

Dec 05, 2025

LMEselect Nickel 3 Month, USD/mt

14,880

-5(-0.03%)

Dec 05, 2025

Nickel import arbitrage(Spot), CNY/mt

-962.79

-87.2(-9.96%)

Dec 05, 2025

RATIO & INDEX15 minutes delay

Brent oil

63.23

-0.03(-0.05%)

Dec 05, 2025

US Dollar Index&reg

98.9126

-0.1449(-0.15%)

Dec 05, 2025

Offshore RMB HK

7.0662

-0.0041(-0.06%)

Dec 05, 2025

SMMI.Ni

1,519.6203

-4.4304(-0.29%)

Dec 05, 2025

Shanghai Interbank Offered Rate

1.52

-11.5(-7.03%)

Jul 25, 2025

Most Read

[SMM Analysis] The Asian Stainless Steel Red Sea: A Battle for Survival 2026 Raw Material Battle: MHP Payables Under Pressure, High-Grade Nickel Matte’s Survival Room to Be Further Squeezed [SMM Analysis] SMM Review of Metal Production in November 2025 and Forecast for December [SMM Analysis] China’s NPI production in metal content fell 14% MoM in November, with further decline projected in December 【SMM Analysis】Weekly Review of Indonesian Nickel Market - Nov 28

Nickel EVENTS

Apr
08
- CLNB 2026 - The 11th New Energy Industry Chain Expo
  Apr 08 - 10,2026
  Suzhou,China
Jun
03
- 2026 Indonesia Critical Minerals Conference & Expo
  Jun 03 - 05,2026
  Indonesia's leading metals & mining event gathering 3500+ participants and 60+ top exhibitors in Jakarta, June 2026.
  PULLMAN JAKARTA CENTRAL PARK, INDONESIA

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