On April 15, 2026, Indonesia issued a ministerial decree on the reference prices (Period II) for metal minerals and coal for April 2026. The HMA (Reference Mineral Price) for nickel was set at US $16,933.57/tonne, calculated as the average of LME nickel spot settlement prices during the period from March 19 to April 9. The HMA for cobalt was set at US $55,852.86/tonne, based on the average of LME cobalt spot settlement prices over the same period. The HMA for iron ore was set at US $1.58/tonne, and the HMA for chrome ore was set at US $6.37/tonne.
Original document: https://mfs.mysteelcdn.com/group1/M00/0C/69/rBL632nfPwSAJ8cgADggbTMQ1HU828.pdf
Written by Cora Ji, jiruyan@mysteel.com
Join Mysteel's April 30 webinar to explore whether supply disruptions will drive the next leg higher for lithium and nickel markets in Q2 2026.
