Eramet recently released its first-quarter 2026 production report. Ferronickel production reached 18,300 tonnes, down 3.68% quarter-on-quarter but up 2.81% year-on-year.
Among this, nickel pig iron (NPI) production from the Weda Bay nickel project in Indonesia stood at 9,000 tonnes. The SLN project in New Caledonia produced 632,000 tonnes of nickel ore, down 10% year-on-year, as mining operations continued to be severely impacted by the ongoing closure of some mining areas on the east coast. During the same period, SLN's nickel ore exports remained constrained, with only 100,000 tonnes exported, a sharp decline of 68% from a year earlier. In Q1 2026, the average price of SLN's exported nickel ore (1.8% grade, CIF China) was $90/wmt, up 20% year-on-year.
Ferronickel (FeNi) production reached 9,300 tonnes. The average cash production cost for ferronickel in Q1 was 8.2 per pound, higher than the 7.8 per pound recorded in the same period last year. The cost increase was mainly attributed to unfavorable changes in inventory structure and negative currency effects, though the positive impact of higher production partially offset these factors. The spot price of ferronickel produced by SLN fell 7% year-on-year.
Written by Cora Ji, jiruyan@mysteel.com
