19.02.202607:30:50UTC+00Nickel Futures Rise from Over 1-Month Low

Nickel futures climbed to around $17,500 per tonne, rebounding from a recent one‑month low on the back of steady demand from EV battery producers and stainless steel manufacturers. The recovery in prices follows the market’s adjustment to Indonesia’s 2026 nickel ore quota reductions, announced in early February, which cut permitted output relative to 2025. The announcement initially sparked a sharp rally, but gains were pared as profit-taking emerged.

Ongoing consumption in China—especially from the electric vehicle sector—continues to underpin a solid demand base and is helping to support prices in the near term. Traders and investors are also closely tracking broader industrial activity and regional ore allocation decisions, factors that could reshape the supply–demand balance in the coming months.

Despite the market’s continued sensitivity to Indonesian policy shifts, upward momentum is being capped by ample global supply and constraints in refining capacity. If these conditions persist, they may limit the scope for further price appreciation.