Nickel Daily: Indonesia's official benchmark prices for the second half of the month adjust upward as expected

Yesterday, the nickel ore market remained generally stable, with Indonesia's official benchmark price for the second half of the month adjusted upward as expected. The price-supporting atmosphere in the market persisted. Mining companies maintained firm offers based on previously high tender prices. However, no new public tenders or transaction news emerged during the day, and market activity mainly focused on fulfilling earlier orders. In Indonesia, the HPM benchmark price for the second half of January officially took effect yesterday. Among them, the benchmark price for 1.6% grade ore was raised to US $29.04/wmt, a significant increase from the first half of the month. As domestic trade premiums and prices for hydrometallurgical ore have not been adjusted yet, this benchmark price hike directly pushed up market prices for pyrometallurgical nickel ore. In the refined nickel market, prices surged significantly during the day, while overall spot trading was subdued.

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