[SMM Nickel Midday Review] On August 27, nickel prices edged down, with the US July PCE price index annual rate at 3.7%.

Published: Aug 27, 2026 11:53

Save

SMM Nickel News, August 27:

Macro and Market News:

(1) The US July PCE price index YoY stood at 3.7%, flat MoM, compared with market expectations for a slight pullback to 3.6%. Market expectations for a US Fed rate hike next month heated up slightly.

(2) The National Bureau of Statistics (NBS) announced that from January to July, total profits of China's industrial enterprises above designated size reached 4,582.06 billion yuan, up 17.6% YoY.

Spot Market:

On August 27, the average price of SMM #1 refined nickel was 129,450 yuan/mt, down 800 yuan/mt from the previous trading day. In terms of spot premiums, Jinchuan #1 refined nickel averaged 1,550 yuan/mt, down 50 yuan/mt from the previous day, while the range for mainstream domestic electrodeposited nickel brands stood at 0-500 yuan/mt.

Futures Market:

The most-traded SHFE nickel 2610 contract moved sideways in early trading, closing the morning session at 128,950 yuan/mt, down 0.44%.

In the short term, the most-traded SHFE nickel contract is expected to trade within a range of 127,000-132,000 yuan/mt.

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 for 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

20 mins ago

[SMM Nickel Flash News] Indonesia Update , August 27, 2026

Indonesian nickel ore CIF average prices remained unchanged across all three grades: · 1.4% Ni: CIF average price at $53.3/wmt · 1.5% Ni: CIF average price at $60.8/wmt · 1.6% Ni: CIF average price at $65.8/wmt Market: The Indonesian nickel ore market remained in a wait-and-see mode, with buyers maintaining cautious procurement amid relatively ample ore inventories. Most smelters still hold around two months of raw-material inventory, limiting immediate spot demand. Policy: The market continues to closely monitor additional RKAB approvals and potential quota adjustments. APNI has proposed maintaining the 2026 RKAB at 270 million wmt, with an additional 30 million wmt strategic buffer, reflecting concerns over growing smelter feedstock demand.

20 mins ago

2 hours ago

[SMM Stainless Steel Flash] Canada Retaliates Against US Section 338 Tariffs

Canada announced retaliatory measures effective September 8 against US Section 338 tariffs, covering 874 tariff lines worth approximately USD 27.6 billion in trade at up to 50% — mirroring the US rate — targeting metal products, dairy, appliances, agricultural machinery, pulp and paper, plastics, and electronics. The US tariffs took effect August 22 following the first-ever invocation of Section 338 of the Tariff Act of 1930, after Washington talks collapsed and Prime Minister Carney withdrew the negotiating team.

2 hours ago

3 hours ago

[SMM Stainless Steel Flash] South Korea's Stainless Imports Decline in Early August, Taiwan (POC) Leads HR Imports

According to South Korean customs statistics, total imports of hot-rolled and cold-rolled stainless steel coils from August 1 to 17 amounted to approximately 17,550 tonnes, down about 16.7% YoY, with both hot-rolled and cold-rolled categories declining. Cold-rolled stainless steel coil imports totalled approximately 10,000 tonnes, while hot-rolled stainless steel sheet imports reached approximately 7,500 tonnes, with Taiwan (POC) ranking first at roughly 2,850 tonnes. Market attributed the overall decline to two key factors: persistently weak downstream demand in South Korea's automotive, electronics, and construction sectors dampening domestic purchasing sentiment, and elevated inventory levels prompting traders to proactively reduce new import orders to manage risk.

3 hours ago