In November 2024, China's imports of hydrometallurgy intermediate products reached 116,000 mt, down 3% MoM

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 12 Feb , 2026

Indonesia's 2026 nickel production might potentially face a severe supply crunch as the government’s 270 million tonne RKAB quota ceiling falls significantly short of the 343 million tonnes required by surging downstream projects. With major mines like Weda Bay facing drastic 71% cuts and administrative bottlenecks paralyzing sales, the market remains in a high-tension deficit, pinning its hopes on a potential July quota revision to stabilize the industry.

On the production front, with the Spring Festival holiday approaching, ternary material enterprises have generally slowed their production pace. Some manufacturers have already taken early holidays or commenced routine maintenance.