[SMM Nickel Flash News] Weekly Weather Outlook (August 24–30)

On August 21, The Philippines President Ferdinand Marcos Jr. signed Executive Order No. 122, establishing a unified policy framework for the development of the country’s critical minerals industry. The policy aims to promote mineral exploration, development, processing and utilization, while encouraging investment in higher-value downstream industries. The framework calls for streamlined and digitalized mining permits, as well as investment incentives for downstream refining, battery production and related industries. Domestic processing facilities will also receive priority access to mineral ores at fair-market prices. The government has identified at least 9 million hectares of prospective mineral areas for further exploration. Nickel is among the Philippines’ key mineral resources. The policy is expected to support greater domestic processing and downstream development, potentially increasing the value added of Philippine nickel resources over the longer term.

[8.24 Morning Meeting Summary] The Trump administration announced a new round of "the toughest ever" economic sanctions against Iran and threatened economic action against any country with commercial ties to Iran. The most-traded SHFE nickel 2609 contract plunged in the night session before rebounding slightly in the morning session, closing at 128,860 yuan/mt as of the morning session close, down 0.67%. Currently, the US is expanding the scale of treasury repurchase, with the macro environment favoring base metals. However, LME and China inventories continued to accumulate, with visible inventory at historical highs. In the short term, the trading range for the most-traded SHFE nickel contract is 125,000-130,000 yuan/mt.

【U.S.-Backed Consortium Eyes $500M-$600M Investment in Tanzania's Kabanga Nickel Project】 U.S.-backed investment consortium Orion CMC is in talks with Lifezone Metals to invest approximately $500 million-$600 million in Tanzania's Kabanga nickel project and acquire a sizable minority stake in Kabanga Nickel, while Lifezone Metals would retain control. Kabanga is one of the world's major high-grade nickel sulfide deposits, with the first phase expected to produce about 350,000 tonnes of nickel concentrate annually alongside copper and cobalt by-products. A downstream refinery is also planned to produce nickel sulfate for battery applications.