News

Due to the ongoing tight fuel supply in Cuba, Sherritt International Corp. plans to suspend mining and processing operations at its nickel-cobalt joint venture in Moa. The company has already scaled back activities and expects to enter a temporary shutdown in the near term, using the downtime to carry out scheduled maintenance. The immediate cause of the suspension is the failure of planned fuel deliveries to materialize. Sherritt is engaging with relevant parties and evaluating alternative sources of key inputs. The project is operated in partnership with General Nickel Company SA, and its semi-processed materials are typically shipped to a refinery in Alberta, Canada, which has a combined capacity of about 38,200 tonnes.

As the Chinese New Year holiday is around the corner, Shanghai Metals Market (SMM) hereby informs you of our metal price update arrangement during the holiday period to ensure you can make proper arrangements for your work and business.

Indonesia’s 2026 RKAB Output Capped at 270M Tonnes? Smelters Lift Premiums to Secure Supply, Driving Up Nickel Ore Prices

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 Feb , 2026

The Nickel Intermediate Product Market Experienced a Holiday Slowdown, with Trading Activity Remaining Sluggish.

[SMM Daily Review: Sluggish Market on Last Trading Day Before Holiday, High-Grade NPI Price Holds Steady MoM] February 13 - The SMM average price for 10-12% high-grade NPI was 1,051.5 yuan/mtu (ex-factory, tax included), flat MoM compared with the previous working day.

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

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.

As of Thursday this week, the SMM battery-grade nickel sulphate index stood at 31,635 yuan/mt, with the quotation range for battery-grade nickel sulphate between 31,400-32,500 yuan/mt, and the average price WoW remained flat.

[SMM Daily Review: Pre-Holiday Market Activity Rises Significantly, High-Grade NPI Price Up MoM] February 12 - The average price of SMM 10-12% high-grade NPI was 1,051.5 yuan/mtu (ex-factory, tax included), up 8.5 yuan/mtu MoM from the previous working day.

As of now, the FOB price of Indonesian MHP nickel is $15,015/mt Ni, and the FOB price of Indonesian MHP cobalt is $49,462/mt Co. The MHP payable indicator (against the SMM battery-grade nickel sulphate index) is 88-88.5, and the MHP cobalt element payable indicator (against SMM refined cobalt (Rotterdam warehouse)) is 91. The FOB price of Indonesian high-grade nickel matte is $15,511/mt Ni.