KESDM Projects Nickel Price Stable in the Range of 19,000 US Dollars per Ton

Director General of Mineral and Coal of the Ministry of Energy and Mineral Resources, Tri Winarno, when met after a Working Meeting (Raker) with Commission XII at the Parliament Complex, Jakarta. (Photo: ANTARA)

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) projects a stable nickel price in the range of US$ 19,000-20,000 per ton in 2026 after domestic nickel production cuts.

"Hopefully in the range of Rp19,000-Rp20,000 (US dollars per ton)," said Director General of Mineral and Coal (Dirjen Minerba) of the Ministry of Energy and Mineral Resources, Tri Winarno, as reported by ANTARA, Thursday, January 22.

The Ministry of Energy and Mineral Resources has cut nickel production to around 250 million-260 million tons in 2026, down from the production target in the 2025 work plan and cost budget (RKAB) of 379 million tons.

Regarding companies whose RKAB has not been approved, Tri reminded that nickel mining companies still have production approval until March 2026 to use their production quota of 25 percent.

"So, while completing the requirements (for the RKAB to be approved) and so on, they have an approval that will last until March and can still be used," said Tri.

The steps to cut nickel production are aimed at keeping commodity prices at a global level.

From falling to 14,125 US dollars per ton on December 16, 2025, it has now risen to 17,000 US dollars per ton, based on data from the London Metal Exchange (LME) as of January 22, 2026.

In fact, the price of nickel reached 18,450 US dollars per ton on January 7, 2026.

Minister of Energy and Mineral Resources Bahlil Lahadalia also asked large industries to buy nickel ore from mining entrepreneurs.

Not only cutting nickel production, the Ministry of Energy and Mineral Resources also cut coal production to around 600 million tons in 2026, down almost 200 tons compared to coal production in 2025 of 790 million tons.

Despite cutting nickel and coal production, the Ministry of Energy and Mineral Resources targets non-tax state revenues (PNBP) from the mineral and coal sector (minerba) in 2026 to reach IDR 134 trillion.

The PNBP target is higher than the target in 2025 of IDR 124.7 trillion.