Nickel Prices Continue to Soar This Year, See the Evidence..

Jakarta, CNBC Indonesia - The Ministry of Energy and Mineral Resources (ESDM) has noted a trend of rising Reference Mineral Prices (HMA) for nickel this year compared to the same period last year.

According to records from the Ministry of ESDM based on data received by CNBC Indonesia, throughout 2025, the HMA for nickel tended to move downwards from US$16,126 per dry metric tonne (April Period I) to US$14,599 per dry metric tonne in December 2025 Period II.

At the start of 2026, the HMA for nickel rose to its highest point in February 2026 Period I at a price of US$17,774 per dry metric tonne, then began to decline to US$16,933.57 per dry metric tonne in May 2026 Period I. The average HMA for nickel in 2026 was US$16,822.29 per dry metric tonne, higher than the 2025 average of US$15,177.12 per dry metric tonne.

Here are the details per period:

In detail, in January 2026 Period I, the HMA for nickel was recorded to have decreased by 7% compared to the same period last year. However, in Period II, the HMA for nickel increased by up to 5% compared to the same period last year.

In February Period I, the HMA for nickel increased by 16% compared to the same period last year. In Period II as well, it increased by up to 16% compared to the same period last year.

In March Period I, the HMA for nickel increased by 12% compared to the same period last year. In Period II as well, it increased by up to 12% compared to the same period last year.

In April Period I, the HMA for nickel increased by 6% compared to the same period last year. In Period II as well, it increased by up to 9% compared to the same period last year.