WEEKLY: Nickel ore disruptions send China's NPI prices higher

Mysteel's latest assessment shows that the spot price of high-grade NPI (7-13% Ni) in Jiangsu province this week had climbed to Yuan 1,050/mtu ($151/mtu) including delivery and VAT as of January 23, marking a weekly increase of Yuan 20/mtu.

The price strength is primarily attributed to tightening supply from Indonesia, the key raw material source. Concerns were ignited by Jakarta's proposal to cap the 2026 nickel ore mining quota, known as RKAB, at 260 million tonnes, a significant potential reduction, as Mysteel Global has reported. Compounding the issue, some