[SMM steel mill guidance price] the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. on July 2nd was the same as that of yesterday.

Nickel Industries Limited (NIC) has announced that its Hengjaya Mine received a significantly increased RKAB quota of 14.3 million wet metric tonnes (wmt) for 2026, up from the previous 9.0 million wmt. This approved volume is strategically allocated to supply 6.0 million wmt of saprolite to the Company’s RKEF operations at IMIP, while the remaining 8.3 million wmt will fully meet the limonite demand for the ENC HPAL project. Following the submission of final documentation, the Company plans to apply for further quota increases during the mid-year and year-end revision windows to support the ramp-up of the ENC project.

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.