[NPI Daily Review] Downstream Buyers Remained on the Sidelines While Upstream Producers Showed Strong Willingness to Hold Prices Firm, NPI Market Held Up Well

The EU's Directorate-General for Trade plans to publish country-specific steel import quotas only in the final week of June, just few days before the safeguard successor measure takes effect on July 1, 2026. The new framework imposes 50% tariffs and reduces import quotas by 47%, placing a significant burden on Europe's steel-processing sector. Critics argue the delayed publication undermines business planning and may conflict with Article 41 of the EU Charter on the right to good administration. Separately, the Commission has launched a consultation on Melt & Pour proof-of-origin requirements under the EU Steel Regulation, running from June 4 to July 2, 2026. The implementing act will determine documentation standards for importers proving where steel was melted, with overly burdensome requirements risking disproportionate impact on SMEs versus large integrated producers.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 08 Jun , 2026

On June 6, Hanrui Cobalt disclosed that it plans to invest in the construction of the "Annual 40,000-Ton Electrolytic Nickel and 40,000-Ton Battery-Grade Nickel Sulfate Project" in Ganzhou City, Jiangxi Province, through its wholly-owned subsidiary, Ganzhou Hanrui New Energy Technology Co., Ltd. The total investment for the project is 2,002.5278 million yuan, and the project funds will come from the company's own funds or self-raised funds. With the completion and operation of the company's nickel resource smelting base in Indonesia, raw materials for this investment project will in the future be partially supplied directly from the Indonesian base, achieving an ecological闭环 in the nickel industry chain from resources to materials.