Indonesia's Nickel Reference Price August 2025 Tends to Stagnate

The Indonesian Ministry of Energy and Mineral Resources (ESDM) set the benchmark price for nickel at US$15,012.67 per dry metric tonne (dmt) for the second period of August 2025.

This price remained relatively stagnant, showing a negligible difference of 0.10% from the beginning of August 2025, which was US$15,028.33 per dmt.

Although the difference is not significant, the prices for both periods in August 2025 are higher than those in July 2025. The first period of July 2025 was recorded at US$14,942.67 and the second at US$14,926.

In addition to nickel, the Ministry of ESDM also set the price of cobalt at US$32,893 per dmt and lead at US$1,969 per dmt.

The following is a list of other benchmark mineral prices (HMA) compiled by Katadata:

• Zinc: US$2,799.58 per dmt
• Aluminum: US$2,611.47 per dmt
• Copper: US$9,701.83 per dmt
• Gold (as a by-product): US$3,359.73 per troy ounce
• Silver (as a by-product): US$38.01 per troy ounce
• Tin Ingot Pb 300: ICDX and JFX settlement price on the day of sale
• Tin Ingot Pb 200: ICDX and JFX settlement price on the day of sale
• Tin Ingot Pb 100: ICDX and JFX settlement price on the day of sale
• Tin Ingot Pb 050: ICDX and JFX settlement price on the day of sale
• Tin Ingot 4NINE: ICDX and JFX settlement price on the day of sale
• Gold: LBMA Gold PM Fix on the day of sale
• Silver: LBMA Silver Fix on the day of sale
• Manganese: US$3.27 per dmt
• Laterite/Hematite/Magnetite Iron Ore: US$1.48 per dmt
• Chromite Ore: US$6.37 per dmt
• Titanium Concentrate: US$9.77 per dmt.

This benchmark price was established through Indonesian Ministry of Energy and Mineral Resources Regulation (Kepmen ESDM) Number 271.K/MB.01/MEM.B/2025 concerning the Benchmark Price of Metal Minerals and the Benchmark Price of Coal for the Second Period of July 2025, on August 15, 2025.