Dear SMM Users,
Indonesia is a key player in the global nickel industry chain and has become a major supplier of nickel sulphate and nickel intermediate products. The theoretical production cost and processing profit of producing nickel sulphate from Indonesian nickel intermediate products can provide an important reference for assessing the economics of nickel sulphate production and the cost support for refined nickel.
To further enhance market transparency and help industry participants track changes in the production cost and profit of integrated nickel sulphate in a timely manner, SMM officially launched a series of weekly cost and profit data for Indonesian integrated nickel sulphate on 11 September 2026.
I. Data Names
1. Theoretical cost and profit of producing nickel sulphate from integrated Indonesian MHP
SMM: Indonesian integrated MHP nickel sulphate production cost: full cost: weekly
SMM: Indonesian integrated MHP nickel sulphate production cost: full profit: weekly
SMM: Indonesian integrated MHP nickel sulphate production cost: full profit margin: weekly
SMM: Indonesian integrated MHP nickel sulphate production cost: cash cost: weekly
SMM: Indonesian integrated MHP nickel sulphate production cost: cash profit: weekly
SMM: Indonesian integrated MHP nickel sulphate production cost: cash profit margin: weekly
2. Theoretical cost and profit of producing nickel sulphate from integrated Indonesian high-grade nickel matte
SMM: Indonesian integrated high-grade nickel matte nickel sulphate production cost: full cost: weekly
SMM: Indonesian integrated high-grade nickel matte nickel sulphate production cost: full profit: weekly
SMM: Indonesian integrated high-grade nickel matte nickel sulphate production cost: full profit margin: weekly
SMM: Indonesian integrated high-grade nickel matte nickel sulphate production cost: cash cost: weekly
SMM: Indonesian integrated high-grade nickel matte nickel sulphate production cost: cash profit: weekly
SMM: Indonesian integrated high-grade nickel matte nickel sulphate production cost: cash profit margin: weekly
II. Publication Frequency and Timing
Update frequency: weekly
Publication time: updated every Friday, with the first publication on 11 September 2026
III. Data Description
Full cost basis: covers all production costs including raw materials, auxiliary materials, energy, labour, depreciation and financial expenses
Cash cost basis: covers only direct cash expenditures, excluding non-cash costs such as depreciation and amortisation
If have any questions or suggestions, please feel free to contact us.
SMM Nickel Research Team
September 14, 2026