Indonesian Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif issued the mineral reference price HMA and coal reference price HBA on Monday, July 17, 2023.
According to the Minister of Energy and Mineral Resources Notification No. 183 of 2023, the reference price will come into effect when it is formulated in Jakarta on July 17, 2023, and the reference price will be US$21,376.75/dry ton (dry metric ton).
As of July 2023, HMA nickel prices averaged $21,376.75/dmt, down from $23,317.00/dmt in June 2023.
The reference price issued by the Ministry of Energy and Mineral Resources is the same as that issued by the Association of Indonesian Nickel Miners (APNI), both at US$21,376.75/dmt.
Nickel HPM for each nickel grade as of July 2023 is slightly down compared to June 2023 Nickel HPM, which is based on the London Metal Exchange (LME) benchmark.
The price trend of LME nickel ore in July 2023 fell slightly compared with June last year. In June, nickel prices reached $23,317.00/dmt.
So currently, nickel prices have declined and are in the range of $1,940.25/dmt until July 2023 according to the Nickel HMA.
Written by Alex Xie, xiehan@mysteel.com
Edited by Aggie Hu, huchenying@mysteel.com
