Tight Nickel Spot Supply Supports Prices Amid Bearish Market Sentiment

Published: Jun 9, 2026 14:04

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[SMM Nickel Flash] June 9, Fundamental side, spot cargo supply remained tight, providing some support to prices, so spot cargo did not fully follow the decline in futures; but bearish factors were more prominent, the sharp decline in nickel prices weighed on the stainless steel industry, and downstream intended purchase prices fell accordingly. Meanwhile, the substitution advantage of steel scrap further expanded, continuously suppressing the upward momentum of nickel pig iron prices.

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