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Nickel Daily: Nickel ore prices in Indonesia remain elevated overall due to divergent pricing models but lack further upward momentum

Source: Mysteel May 14, 2026 09:10
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Nickel Demand Price Supply
Nickel ore prices in Indonesia remained elevated overall due to divergent pricing models, but further upward momentum was lacking. Hydrometallurgical ore was priced at US $28-33/wmt, with CIF offers for 1.4% grade at US $64/wmt and for 1.5% grade at US $71/wmt.SHFE nickel traded in a range with an upward bias yesterday, while spot trading for refined nickel remained relatively subdued. Spot premiums/discounts for various refined nickel brands held mostly steady, with Jinchuan electrolytic nickel premiums edging slightly higher. After nickel prices rallied and then retreated, near-term upward momentum had weakened, but cost support from below remained solid. The market lacked catalysts to break the current range-bound trading pattern.

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