Indonesia's June intermediate nickel exports mixed; nickel matte leads growth

By Pandu Setiabudi

Indonesia's exports of four intermediate nickel products posted mixed results in June 2026. According to data released by the Central Statistics Agency (BPS) on August 3, nickel matte recorded the strongest growth in both export volume and value compared with the same period last year.

Meanwhile, exports of ferronickel (FeNi) and mixed hydroxide precipitate (MHP) continued to decline in volume, while nickel pig iron (NPI) still posted year-on-year growth despite weakening from the previous month.

NPI exports reached 15.7 thousand tonnes worth US$20.6 million in June, down 38.6% from May but up 53.2% from June 2025. Export value also declined 36.4% month on month but increased 80.1% year on year.

During the January–June 2026 period, NPI exports totaled 126.3 thousand tonnes valued at US$155.2 million, up 14.6% and 29.8%, respectively, from the same period last year. China remained the leading export destination with cumulative shipments of 125.3 thousand tonnes, while Kendari was the largest port of origin with 56 thousand tonnes. Throughout 2025, Indonesia exported 191.7 thousand tonnes of NPI worth US$206.6 million.

In contrast, FeNi exports remained under pressure. June exports stood at 731.0 thousand tonnes valued at US$1.213 billion, down 13.7% and 11.2%, respectively, from May. Compared with June last year, export volume declined 23.2%, while export value fell 7.4%.

Cumulative exports in the first half of 2026 reached 5.01 million tonnes worth US$7.72 billion, down 12.1% in volume and 5.8% in value from a year earlier. China remained the largest market with 4.89 million tonnes, while Weda was the main port of origin with 1.73 million tonnes. In 2025, FeNi exports totaled 11.56 million tonnes valued at US$16.39 billion.

Meanwhile, nickel matte was the best-performing intermediate nickel product. June exports reached 40.5 thousand tonnes worth US$494.8 million, rising 21.7% month on month and surging 165.5% year on year. Export value also increased 26.7% from May and jumped 243.4% from June 2025.

During January–June 2026, nickel matte exports reached 231.1 thousand tonnes valued at US$2.61 billion, up 100.4% and 139.7%, respectively, from the same period last year. China remained the primary export destination with 184.3 thousand tonnes, while Weda was the largest port of origin with 99.2 thousand tonnes. Throughout 2025, nickel matte exports totaled 307.1 thousand tonnes worth US$2.95 billion.

Meanwhile, MHP exports reached 111.9 thousand tonnes worth US$484.4 million in June, down 20.3% from the previous month and 30.1% year on year in terms of volume. However, export value still increased 18.1% from a year earlier despite declining 13.6% from May.

Cumulative exports during January–June 2026 amounted to 775.8 thousand tonnes valued at US$3.13 billion, with export volume falling 19.8% year on year while export value rose 27.5%. China remained the largest export market with 760.3 thousand tonnes, while Bahudopi was the leading port of origin with 294.3 thousand tonnes. Throughout 2025, Indonesia exported 2.00 million tonnes of MHP worth US$5.41 billion.

Editing by Reiner Simanjuntak