Indonesia holds over 60% of the world's nickel reserves and plays a central role in nickel resource supply and processing. In 2023, Indonesia achieved a breakthrough in refined nickel exports, increasing from zero to substantial volumes, with exports reaching 43,600 mt in 2024. New refined nickel projects are currently under construction, and Indonesia's refined nickel capacity is expected to increase to 180,000 mt by 2026. Future exports are anticipated to expand further, making Indonesia's refined nickel price trends significantly influential in the global nickel market.
To actively respond to changes in the Indonesian refined nickel market, meet the urgent needs of users for Indonesian refined nickel FOB prices, and enhance market information transparency, SMM has decided:
Starting from September 19, 2025, to publish the‘SMM Indonesia Refined Nickel, FOB Indonesia, USD/tonne’price
Price details are as follows:
- Description: SMM Indonesia Refined Nickel, FOB Indonesia, USD/tonne
- Quality: Ni 99.80% min
- Definition: FOB Indonesia main ports
- Unit: USD/tonne
- Quantity: Min 30 tonnes
- Timing: 1-3 months
- Payment Terms: L/C/TT at sight in USD , or other payment terms normalized
- Publication: Weekly, Friday 10:30 AM Jakarta Time
