PBOC to Conduct 600 Billion Yuan MLF Operation on Feb 25, 2026, Ensuring Ample Liquidity

Published: Feb 25, 2026 11:47
To maintain ample liquidity in the banking system, on February 25, 2026, the People's Bank of China will conduct a 600 billion yuan MLF operation via fixed quantity, interest rate tender, and multiple-price winning method, with a maturity of one year.

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
[Nickel Pig Iron Daily Review] Smelter Maintenance Fuels Shortage Expectations, High-Grade NPI Quotation Activity Increases
Common.Time.minsAgo
[Nickel Pig Iron Daily Review] Smelter Maintenance Fuels Shortage Expectations, High-Grade NPI Quotation Activity Increases
Read More
[Nickel Pig Iron Daily Review] Smelter Maintenance Fuels Shortage Expectations, High-Grade NPI Quotation Activity Increases
[Nickel Pig Iron Daily Review] Smelter Maintenance Fuels Shortage Expectations, High-Grade NPI Quotation Activity Increases
[SMM Daily Review: Smelter Maintenance Sparks Shortage Expectations, High-Grade NPI Quotation Activity Increases] February 25 (SMM) - The average price of SMM 10-12% high-grade NPI was 1,070 yuan/mtu (ex-factory, tax included), up 16.5 yuan/mtu MoM from the previous trading day.
Common.Time.minsAgo
[SMM Nickel News]
Common.Time.hoursAgo
[SMM Nickel News]
Read More
[SMM Nickel News]
[SMM Nickel News]
On February 25, the SMM #1 refined nickel price was 140,000–149,900 yuan/mt, with an average price of 144,950 yuan/mt, up 2,450 yuan/mt from the previous trading day. The spot premium quotation range for Jinchuan #1 refined nickel was 8,100–9,000 yuan/mt, with an average premium of 8,550 yuan/mt, down 350 yuan/mt from the previous trading day. The spot premium and discount quotation range for mainstream domestic electrodeposited nickel was -400–600 yuan/mt.
Common.Time.hoursAgo
[SMM Nickel Midday Review] Nickel prices surged significantly again on February 25, breaking through 140,000 yuan/mt, and are expected to hold up well in the short term.
Common.Time.hoursAgo
[SMM Nickel Midday Review] Nickel prices surged significantly again on February 25, breaking through 140,000 yuan/mt, and are expected to hold up well in the short term.
Read More
[SMM Nickel Midday Review] Nickel prices surged significantly again on February 25, breaking through 140,000 yuan/mt, and are expected to hold up well in the short term.
[SMM Nickel Midday Review] Nickel prices surged significantly again on February 25, breaking through 140,000 yuan/mt, and are expected to hold up well in the short term.
Common.Time.hoursAgo