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2026-04-08 17:18:39
[Supply Control Measures Support Higher Nickel Prices] ⑴ Nickel futures are trading around $17,300 per tonne, climbing from recent levels as quota cuts in Indonesia boosted investor confidence. The country has signaled continued production discipline for its 2026 quota, with RKAB approvals indicating output in the range of approximately 190-200 million tonnes, which bolstered market sentiment despite a continued supply surplus. ⑵ Prices have stabilized in the $17,000-$17,400 per tonne range as the market adjusts to tighter quotas. However, gains are limited by persistently high global inventories and an overall market expectation of a surplus in 2026. Demand remains weak, with ample stainless steel production and overall manufacturing activity sluggish, while battery applications have yet to drive a sharp increase in demand this month.
