ESDM: Nickel Price Stabilises at US$17,000 per Tonne

Indonesia supplies 65% of the world’s nickel. That is why we are trying to make Indonesia a player that determines the price.

Jakarta (ANTARA) - The Ministry of Energy and Mineral Resources (ESDM) has stated that nickel prices have begun to stabilise at US$17,000 per tonne after Indonesia implemented a policy of cutting nickel production quotas.

“Prices once reached US$18,600 per tonne, then stabilised around US$17,000. Now it is around US$17,200–17,400 (per tonne),” said the Director General of Mineral and Coal (Dirjen Minerba) of the Ministry of ESDM, Tri Winarno, at an event titled “Unlocking Growth in The Middle Income Trap” in Jakarta on Tuesday.

Before the Indonesian government implemented the nickel production quota cut policy, the price of the mining commodity was in the range of US$14,000–15,000 per tonne.

The cause of the low nickel price at that time, Tri explained, was due to an excess supply of nickel or oversupply in the global market of around 200–250,000 tonnes.

Since Indonesia announced it would control nickel production on 23 December 2025, Tri stated that nickel prices in the global market immediately increased.

Tri hopes that the production control carried out by the Ministry of ESDM can prevent nickel oversupply, so that the price of the mining commodity can improve.

“65% of the world’s nickel supply comes from Indonesia. That is why we are trying to make Indonesia a player that determines the price,” Tri said.

The nickel production quota set by the Ministry of ESDM for 2026 has been reduced to 250–260 million tonnes, compared to the 2025 Work Plan and Budget (RKAB) of 379 million tonnes.

This cut is based on the imbalance between supply and demand for coal and nickel in the international market, particularly throughout 2025.