Indonesia’s nickel smelters are paying an increasingly steep premium to secure nickel ore, as a domestic supply crunch squeezes the industry’s margins. Benchmark notes the premium for some grades, based on data from Mysteel, is approaching 100% over the government’s benchmark price, known as the Harga Patokan Mineral (HPM). This supply tightness is driven by […]
> Nickel prices spent much of Q3 2025 trading at five‑year lows even as intermediates surged, highlighting the deepening split between China‑led chemical demand and a structurally oversupplied global metal market. Nickel sulphate EXW China climbed 7% across the quarter to RMB 27,800–28,020/t ($3,920–3951/t), its highest since March. Precursor and cathode producers rebuilt inventories in August and […]
> Philippine lawmakers have introduced a bill to ban raw nickel ore exports, aiming to encourage domestic value-add processing and replicate neighbouring Indonesia’s success in downstreaming its nickel resources. Set to take effect five years after passage, the ban seeks to shift the country away from raw material exports toward local processing to capture more economic […]
> South Korea’s battery industry is one of the most developed and globally integrated ecosystems in the world. Yet beneath the surface of its technical leadership lies a sense of caution: competition from China is intensifying, margins are thin, and chemistry choices are shifting rapidly. A recent visit by Benchmark’s Lithium Product Director, Cameron Perks – […]
> As the dust settles on LME Week in London, Benchmark reviews some of the key themes that shaped discussions throughout the week and gauges sentiment across metal markets heading towards year end. Across the board, discussions reflected metal markets navigating shifting trade policy, supply-side disruption, and uneven demand recovery. Copper: Arbitrage and disruption dominate discussion […]
> Escalating unrest in Mali, as jihadi groups target fuel convoys around the capital Bamako, has led several governments including France and the US to advise their citizens to leave the country. The attacks have created fuel shortages, and raised serious concerns around the military government’s ability to maintain its rule in the country. Mali is […]
> Indonesia’s Forestry Task Force last week seized ~148 hectares of land occupied by PT Weda Bay Nickel in Halmahera, North Maluku, citing a lack of relevant permits. The move marks the first high-profile enforcement in the nickel sector since President Prabowo Subianto vowed to step up action against illegal mining in August. Officials said the […]
> A diplomatic visit to the Philippines by US Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez signals growing US interest in the country as a potential source of non-Chinese battery nickel. The Philippines produced 11% of the world’s mined nickel in 2023, according to Benchmark’s Nickel Forecast, making it the […]
> South Korean steel and chemicals giant POSCO has taken a 30% stake in Australia’s Mineral Resources’ (MinRes) 50% stakes in the Mt Marion and Wodgina mines for US$765 million. Structured as a joint venture, the deal would see MinRes and POSCO hold an overall 35% and 15% of the operations, as well as corresponding rights […]