Indonesian Nickel Producers Face Challenges as Global Prices Decline

Impact on Major Nickel Producers

The recent decline in global nickel prices is creating significant challenges for Indonesian nickel producers. As of November 20, 2025, nickel ore prices stood at US$ 14,502 per ton, representing a 0.94% decline from the previous day and a 4.70% drop over the past month according to Trading Economics data. This price movement has directly affected major Indonesian nickel producers, with their stock prices experiencing notable corrections.

Stock Performance of Major Nickel Companies

1. PT Vale Indonesia Tbk (INCO): Stock price fell by 10.77% to Rp 3,810 per share
2. PT Trimegah Bangun Persada Tbk (NCKL): Experienced 20.41% decline to Rp 975 per share
3. PT Merdeka Battery Materials Tbk (MBMA): Stock price weakened by 2.59% to Rp 565 per share
4. PT Central Omega Resources Tbk (DKFT): Declined by 10.49% to Rp 725 per share
5. PT PAM Mineral Tbk (NICL): Corrected by 0.47% to Rp 1,060 per share

Market Dynamics and Future Outlook

The decline in nickel prices and subsequent stock performance reflects broader market dynamics in the nickel industry. Indonesian producers, being significant players in the global nickel market, are particularly vulnerable to international price fluctuations. The current price movement is likely to impact their revenue and profitability in the short term.

Key Factors Influencing Nickel Prices

1. Global demand fluctuations
2. Supply chain dynamics
3. Commodity market sentiment
4. Global economic conditions

The current situation highlights the need for Indonesian nickel producers to adopt strategic measures to mitigate the impact of price volatility. Companies may need to focus on cost optimization, operational efficiency, and diversification strategies to maintain their competitive edge in the global market.