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Nickel Daily: The refined nickel market exhibit a volatile pattern after bottoming out and recovering

Source: Mysteel Mar 10, 2026 08:58
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Nickel Demand Price Supply
For nickel ore, Philippine mine offers remained at elevated levels. The latest FOB quotes show CNC mine offering 0.6% grade high-iron ore at US $18/wmt, 1.25% grade at US $49.5/wmt, and 1.3% grade at US $53/wmt. KMI mine offered 0.7% low-alumina ore at $20/wmt and 1.2% grade at US $43/wmt. Regarding weather conditions, rainfall in the main Philippine mining areas remained relatively heavy. The refined nickel market exhibited a volatile pattern yesterday after bottoming out and recovering. Jinchuan Group's ex-factory price in Shanghai showed a narrower premium over the most-traded SHFE contract, putting pressure on spot premiums for Jinchuan resources, which declined to around Yuan 6000/tonne in afternoon trading. Spot premiums/discounts for other brands were steady to slightly higher. Trading activity improved during the morning session when nickel prices retreated, but gradually cooled as prices rebounded. Indonesia's nickel industry policies continue to influence the market.

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