LME Copper to Stay Range-Bound (2015-12-23)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 16 Sep , 2026

South Korea plans to strengthen cooperation with Kazakhstan and Uzbekistan in the critical minerals sector, advancing joint exploration and technology development for lithium, nickel and cobalt resources. In Kazakhstan, the Korea Institute of Geoscience and Mineral Resources (KIGAM) has signed an agreement with local companies to conduct joint drilling at the Bakennoye lithium deposit and its tailings in 2027. The potential lithium resources are preliminarily estimated at approximately 25,000 tonnes. In Uzbekistan, the two sides will focus on the exploration and development of nickel and cobalt resources in the Sultanbobo area, including R&D on processing and refining technologies and feasibility studies. The cooperation aims to facilitate the participation of Korean companies in subsequent development projects and strengthen the security of South Korea’s critical mineral supply chains.

Indonesia's Ministry of Energy and Mineral Resources (ESDM) has officially released the Nickel Mineral Reference Price (HMA) for the second half of September 2026. The nickel HMA for the second half of September was set at USD 16,698.00/mt, down USD 35.33/mt, or 0.21%, from USD 16,733.33/mt in the first half of September. The cobalt HMA was USD 52,704.33/mt, while the iron ore HMA was USD 1.47/mt and the chrome ore HMA was USD 6.37/mt. Following the revised nickel ore HPM formula under Kepmen ESDM No.363.K/MB.01/MEM.B/2026, which took effect on September 15, 2026, the nickel ore HPMs are as follows: · Ni 1.2%: $24.89/wmt, down $20.77/wmt, based on the new HPM formula for Ni 1.2% grade and below. · Ni 1.3%: $49.20/wmt, down $0.69/wmt. · Ni 1.4%: $53.83/wmt, down $0.24/wmt. · Ni 1.5%: $58.50/wmt, down $0.25/wmt. · Ni 1.6%: $63.38/wmt, down $0.26/wmt.