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Nickel Daily: SHFE nickel prices continue to weaken

Source: Mysteel Jun 26, 2026 09:20
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Nickel Demand Price Supply
Philippine nickel ore prices held steady. CIF offers for Ni:1.3% grade stood at US $49/wmt, and Ni:1.4% grade at US $58/wmt. In terms of sea freight, the Surigao to Weda Bay route was US $12/wmt, Tawi-Tawi to Weda Bay US $11.5/wmt, and Surigao to Lianyungang US $14/wmt. Freight rates remained stable overall, with room for further declines. In Indonesia, ESDM clarified that the total 2026 nickel ore RKAB quota had not yet been finalized. ESDM would continue to review applications according to the official assessment mechanism before deciding on any RKAB adjustments. The matter was still at the discussion stage, and Indonesian nickel ore prices are expected to edge down next month.SHFE nickel prices continued to weaken yesterday, and traders began switching their quoting contracts to the SHFE nickel 2608 contract, with the month-end spread narrowing slightly. Downstream companies showed a clear divergence, with some buying on dips and others waiting for further declines.

0626

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