SHFE Nickel Rises, Suppliers Raise Quotes Amid Uncertain Market Outlook

Published: Apr 27, 2026 15:18

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[SMM Nickel Flash] April 27, supply side, the most-traded SHFE nickel contract tested upward toward 150,000, suppliers raised their quotes again, and most upstream pig iron producers and traders actively held prices firm. Demand side, stainless steel and steel scrap prices also rose, downstream steel mills showed greater acceptance of high-grade NPI prices. However, as the price spread between high-grade NPI and SHFE nickel had not widened significantly, and the market outlook remained uncertain, arbitrage buying driven by price increases was limited, providing limited support for price gains.

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