Discussions on revising the Mining and Coal Law continue at Nusantara Building I in Senayan, Jakarta, attracting public attention. Meanwhile, Indonesian nickel prices remain on an upward trajectory.
This trend is reflected in the Indonesian Nickel Price Index (INPI), released by the Indonesian Nickel Miners Association (APNI) on January 19, 2025. The rise indicates market optimism driven by stable global prices and growing demand from renewable energy and automotive sectors.
Key highlights from the INPI:
A.1.2% grade nickel ore (CIF): $20.5–$23.8/ton, with an average of $22.15/ton, up $0.15.
B.1.6% grade nickel ore (CIF): Average $44.1/ton, up $0.1.
C.Nickel pig iron (NPI, FOB): Average $111.2/ton, up $0.2.
D.High-grade ferronickel (FOB): Average $12,871/ton, up $73.
E.Mixed hydroxide precipitate (MHP, FOB): Average $12,075/ton, up $43.
This growth is supported by stable London Metal Exchange (LME) nickel prices, which stood at $15,860/ton as of January 20, 2025. Additionally, battery-grade nickel sulfate prices rose to RMB 26,534/ton due to tight supply and low inventory levels.
Although production of high-grade nickel sulfate remains unprofitable, limited supply supports potential price increases. Stainless steel markets have also shown stability ahead of Lunar New Year, underpinned by robust cost support critical to sustaining recent price recovery.
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