[SMM Nickel Flash News] LME Nickel Prices Strengthen in July on Improved Macro Sentiment and Lower Inventories

Russia has officially lifted its rail transport ban on sulfur originating from Kazakhstan transiting through Russian territory for export. The Federal Agency for Railway Transport (Roszheldor) imposed the ban on May 24, 2026, suspending the shipment of Kazakh sulfur to Russian seaports and railway checkpoints. The restriction forced exporters to reroute shipments via alternative corridors, with logistics costs for Tengiz and Kashagan sulfur roughly doubling through the port of Batumi, according to sources. The lifting order was signed on July 24, 2026, following instructions from First Deputy Prime Minister Denis Manturov. Russian Railways (RZD) has notified its subsidiaries to resume accepting railcars carrying Kazakh sulfur, with shipments directed to port stations on the Oktyabrskaya, Severnaya, Kaliningradskaya, Severo-Kavkazskaya, Privolzhskaya and Dalnevostochnaya railways. Kazakhstan is a major sulfur producer and exporter, with annual exports exceeding 4 million tonnes, the bulk of which traditionally flows through Russian ports. The lifting of the ban is expected to restore normal export routes for Kazakh sulfur.

Indonesia has allowed exports of nickel pig iron (NPI) and other processed mineral products to resume after shipments were delayed by uncertainty surrounding testing requirements for associated rare earth elements (REE/LTJ). The government clarified that existing regulations only prohibit exports of pure rare earth elements (HS 28053000) and do not explicitly restrict processed mineral products containing trace REE. Relevant ministries have been instructed to establish technical guidelines covering REE definitions, content thresholds, testing standards and transitional arrangements, while exporters may continue normal shipments in the interim. The decision eases near-term concerns over export disruptions for Indonesian NPI producers and supports the continuity of downstream nickel shipments. However, regulatory uncertainty is likely to persist until the government finalises detailed REE content thresholds and inspection procedures

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 28 Jul , 2026