The market sentiment picks up, and the price of ferronickel is expected to be stable and strong in the short term

Indonesian Nickel Ore Premiums Dropped? Another New Trend? NPI Prices Behaved The Same?

On June 5, the Indonesia Critical Minerals Conference & Expo 2025, hosted by SMM Information & Technology Co., Ltd. (SMM), supported by the Indonesian Ministry of Foreign Affairs as a government supporter, and co-organized by the Indonesia Nickel Miners Association (APNI), Jakarta Futures Exchange, and Sxcoal, successfully concluded at the Pullman Jakarta Central Park Hotel in Indonesia.

SMM March 18th: On March 18th, the opening price of the main Shanghai nickel contract was 142,030 yuan/ton, and the closing price was 139,950 yuan/ton, a decrease of 1,920 yuan/ton from the closing price of the previous trading day. Intraday trading strengthened compared to the previous trading day, with an increase of 50,346 lots in volume and an increase in open interest of 2,737 lots...

Metals market: As of midday close, base metals in the domestic market rose almost across the board. Shanghai nickel rose 4.1%, and Shanghai aluminum rose slightly. Shanghai tin fell 1.17%. Shanghai copper, Shanghai zinc and Shanghai lead all rose within 0.3%. The main alumina futures rose 2.08%. The main industrial silicon contract rose 0.6%. The main lithium carbonate futures contract rose 2.72%. The black series is mostly red, and the iron ore rose 0.89%. Thread and hot coil rose slightly, and stainless steel rose 1.34%. In terms of double coke, coking coal fell 0.31% and coke fell 0.21%. In terms of external metals, as of 11:42, LME metals were mixed. London zinc and London nickel rose slightly, London aluminum rose 0.45%, London lead, London tin, and London copper all fell slightly, and the decline was within 0.3%. In terms of precious metals, as of 11:42, COMEX gold rose 0.19%, and COMEX silver fell 0.04%. In terms of domestic precious metals, as of noon close, Shanghai gold fell 0.02%, and Shanghai silver fell 0.42%. Gold prices are set to post weekly gains, supported by a weaker dollar and safe-haven buying this week. Conflict in the Middle East has also boosted gold's safe-haven appeal. In addition, as of noon closing, the main futures of European line container shipping were reported at 2048 points, up 0.5%

Shanghai base metals all cruised lower on Monday morning as the dollar increased amid rising US Treasury yields.   

Nickel ore inventories across all Chinese ports decreased 255,000 wmt from April 2 to 5.48 million wmt as of April 9, showed SMM data. 

SHFE nonferrous metals rose for the most part on Thursday February 4 as pessimism about the US economic outlook receded before the release of important data on the jobs market.

SHFE nonferrous metals, except for copper, closed lower on Tuesday

LME base metals closed mixed on Thursday, and the SHFE complex performed similarly overnight

The move aims to accelerate the establishment of smelters, as ESDM will stop exports of nickel ore of all grades from 2020