Economic Data Pushes Comex Copper To 4-Week Low

As of June 30, LME nickel Open Tonnage stood at 265,044 mt, up 2,448 mt from May 29, or up 0.9% MoM, showing a mild inventory buildup overall. From the perspective of origin structure, Chinese-origin nickel inventory increased by 738 mt to 186,384 mt, and Indonesian-origin nickel increased by 894 mt to 19,338 mt, which were the main sources of the inventory increase this month; Finnish- and South African-origin nickel each increased by 354 mt. Chinese-origin nickel still accounted for approximately 70.3% of LME nickel inventory, indicating a high concentration of origin.

As of June 30, LME nickel Open Tonnage stood at 265,044 mt, up 2,448 mt from May 29, or up 0.9% MoM, showing a mild inventory buildup overall. From the perspective of origin structure, Chinese-origin nickel inventory increased by 738 mt to 186,384 mt, and Indonesian-origin nickel increased by 894 mt to 19,338 mt, which were the main sources of the inventory increase this month; Finnish- and South African-origin nickel each increased by 354 mt. Chinese-origin nickel still accounted for approximately 70.3% of LME nickel inventory, indicating a high concentration of origin.

El Ministerio de Energía y Recursos Minerales (ESDM) de Indonesia ha publicado oficialmente el precio de referencia de minerales (HMA) para la segunda quincena de julio de 2026. El HMA para este período es el siguiente: el precio del níquel se sitúa en 16.533,67 USD/tonelada (frente a 17.593,33 USD/tonelada en la primera quincena de julio de 2026), lo que representa una disminución de 1.059,66 USD/tonelada, o un 6,02 %. Mientras tanto, los precios de referencia para otros minerales son: cobalto a 55.863,00 USD/tonelada, mineral de hierro a 1,44 USD/tonelada y mineral de cromita a 6,37 USD/tonelada. Según el modelo de cálculo interno de SMM, basado en simulaciones para mineral pirometalúrgico (20% Fe, 1% Cr, 0,05% Co) y mineral hidrometalúrgico (45% Fe, 2% Cr, 0,10% Co), los precios de referencia del mineral de níquel (HPM) para diferentes leyes han cambiado de la siguiente manera: - Ni 1,2 %: 45,25 USD/wmt (baja de 2,15 USD) - Ni 1,3 %: 49,44 USD/wmt (baja de 2,42 USD) - Ni 1,4 %: 53,60 USD/wmt (baja de 2,97 USD) - Ni 1,5 %: 58,23 USD/wmt (baja de 3,27 USD) - Ni 1,6 %: 63,06 USD/wmt (baja de 3,58 USD)