Spot price of battery grade nickel sulfate on April 3, 2020

[7.15 Morning Meeting Minutes] The US will blockade Iranian ports starting at 4 a.m. on the 15th; Trump stated that a 20% fee will be charged on cargo transportation and may manage the Strait of Hormuz in the future. The most-traded SHFE nickel 2609 contract surged during the night session and consolidated in the morning session, closing at 129,250 yuan/mt, with an increase of 0.43%. Over the weekend, renewed tensions in the US-Iran conflict, along with a simultaneous rise in the US dollar and crude oil, exerted pressure on metals. However, Indonesia's Ministry of Energy and Mineral Resources officially announced on July 10 that it would no longer raise overall national nickel ore mining production quotas, with increases to be very limited and strict exception approval channels set only for domestic smelters facing severe raw material supply shortages. In the short term, nickel prices may rebound, with the most-traded SHFE nickel contract price range at 127,000-133,000 yuan/mt.

Weather conditions across the major nickel-producing regions are expected to remain generally manageable next week. Central Sulawesi, Southeast Sulawesi (Kolaka/Konawe), and Halmahera are forecast to experience frequent light to moderate showers with occasional thunderstorms, with rainfall expected to be intermittent and unlikely to cause prolonged disruptions. Zambales is likely to see the wettest conditions, with more persistent rainfall throughout the week, posing a relatively higher risk of localized impacts on mining and logistics. In contrast, Surigao is expected to remain comparatively drier, with only isolated showers. Overall, while intermittent rainfall may lead to localized operational delays, no widespread weather event is currently expected to significantly disrupt regional mining or shipping activities.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 14 Jul , 2026