As of now, the FOB price of Indonesian MHP nickel is $16,387/mt Ni, and the FOB price of Indonesian MHP cobalt is $51,383/mt Co. MHP payables (against SMM battery-grade nickel sulphate index) are at 86-87, while MHP cobalt payables (against SMM refined cobalt (Rotterdam warehouse)) are at 95. The FOB price of Indonesian high-grade nickel matte stands at $16,474/mt Ni.
Jun 22, 2026 12:01On June 22, the SMM battery-grade nickel sulphate average price edged down.
Jun 22, 2026 11:57[SMM Nickel Flash] This week, the cost trends of high-grade NPI in and outside China diverged once again, with the profitability gap continuing to widen. The cash cost of high-grade NPI in China extended its downward trend, primarily driven by increased arrivals of Philippine nickel ore and persistently weakening prices, directly reducing smelting’s core raw material costs, while overall production costs pulled back in tandem.
Jun 18, 2026 18:14As of now, the FOB price of Indonesian MHP nickel is $16,326/mt Ni, and the FOB price of Indonesian MHP cobalt is $51,353/mt Co. The MHP payables (against SMM battery-grade nickel sulphate index) are 86-87, and the MHP cobalt payables (against SMM refined cobalt (Rotterdam warehouse)) is 95. The FOB price of Indonesian high-grade nickel matte is $16,412/mt Ni.
Jun 18, 2026 11:51On June 18, the average price of SMM battery-grade nickel sulphate edged down slightly.
Jun 18, 2026 11:40![[SMM Analysis] NPI Market: Supply Crunch Fuels H1 Price Surge, Tight Balance to Persist Through 2030](https://imgqn.smm.cn/usercenter/qLeLR20251217171733.jpg)
In H1 2026, the Indonesian 10-12% high-grade NPI (delivered to port, tax inclusive) market trended steadily upward, with the SMM average price rising 12% compared to the same period in 2025. Price movements were characterized by “stepwise increases and fluctuations at highs.” Each round of supply-demand imbalance and policy disruption pushed prices onto a higher level.
Jun 18, 2026 09:01SMM is officially launching five granular price assessments for Philippine nickel ore ocean freight to major smelting hubs in China and Indonesia, replacing old Philippines ocean freight price points
PriceMay 13, 2026 14:58SMM will increase the update frequency for its Indonesian Domestic Nickel Ore Price (1.2%-1.6% Ni) from weekly to daily, effective February 9, 2026, due to market volatility.
PriceFeb 3, 2026 13:48In the past two years, the proportion of nickel ore exported from the Philippines to Indonesia has surged from less than 3% in 2023 to approximately 20% in 2024. This year, Indonesia’s domestic nickel ore supply is tightening under the dual pressures of progressively stricter government controls over nickel resources and prolonged rainy seasons. Consequently, exports of nickel ore from the Philippines to Indonesia are expected to increase further. Against this backdrop, the valuation and pricing mechanisms for Philippine nickel ore in the Indonesian market are drawing close attention from participants across the supply chain. To proactively address market shifts, meet the pressing need for price discovery of Philippine nickel ore on a CIF Indonesia basis, and enhance market transparency, SMM has decided: Commencing August 15, 2025, SMM will officially launch two new price: SMM the Philippines 1.3% Laterite Nickel Ore, CIF Indonesia, USD/wmt SMM the Philippines 1.4% Laterite Nickel Ore, CIF Indonesia, USD/wmt Details of this price point are as follows: Description: SMM the Philippines 1.3% Laterite Nickel Ore, CIF Indonesia, USD/wmt Quality: Nickel ore 1.3% Ni, 15-25% Fe, water content 33-35% Quantity: Minimum 50000 tonnes Definition: CIF Indoneisa main ports Brand Listing: CNC、NAC,etc Timing: 1-2 Months Unit: USD/wmt Payment Terms: L/C/TT at sight in USD , other payment terms normalized Pulication: Daily, by 12am Beijing Time Description: SMM the Philippines 1.4% Laterite Nickel Ore, CIF Indonesia, USD/wmt Quality: Nickel ore 1.4% Ni, 15-25% Fe, water content 33-35% Quantity: Minimum 50000 tonnes Definition: CIF Indoneisa main ports Brand Listing: CNC、NAC,etc Timing: 1-2 Months Unit: USD/wmt Payment Terms: L/C/TT at sight in USD , other payment terms normalized Pulication: Daily, by 12am Beijing Time SMM Nickel Industry Research Department August 8, 2025
PriceAug 8, 2025 16:19