Indonesian Nickel Policies Boost Prices, Steel Mills Show Positive Sentiment Before Holiday
[SMM Nickel Flash] On the upstream side, news about Indonesian nickel ore costs and windfall tax policies supported the willingness to hold prices firm, smelters generally held back from selling with a bullish outlook, and high-grade NPI quotes rose in tandem. On the downstream side, steel mills showed relatively positive purchasing sentiment before the holiday. Although most steel mills maintained a wait-and-see attitude after the holiday, the market overall still held up well.