Nickel Ore Quota News Boosts Futures, High-Grade NPI Prices Rise Amid Weak Market Liquidity

Published: Feb 11, 2026 18:47

Save

[SMM Nickel Flash] February 11 — Supply side, amid the impact of nickel ore quota news, futures rose again, supporting firm market quotations. Demand side, against a backdrop of bullish sentiment, there was some restocking activity, but overall market liquidity remained weak. In summary, the pattern of poor market liquidity before the holiday remained unchanged; driven by futures and macro sentiment, high-grade NPI prices rose slightly.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.hoursAgo

Data: SHFE, DCE market movement (Feb 12)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 12 Feb , 2026

Common.Time.hoursAgo

【SMM Analysis】Indonesian Nickel Initial Outlook in 2026: Navigating the RKAB Quota Crunch

Indonesia's 2026 nickel production might potentially face a severe supply crunch as the government’s 270 million tonne RKAB quota ceiling falls significantly short of the 343 million tonnes required by surging downstream projects. With major mines like Weda Bay facing drastic 71% cuts and administrative bottlenecks paralyzing sales, the market remains in a high-tension deficit, pinning its hopes on a potential July quota revision to stabilize the industry.

Common.Time.hoursAgo

[SMM Analysis] Ternary Cathode Market Sees Light Activity This Week Ahead Of Spring Festival

On the production front, with the Spring Festival holiday approaching, ternary material enterprises have generally slowed their production pace. Some manufacturers have already taken early holidays or commenced routine maintenance.

Common.Time.hoursAgo