Nickel Futures Rise from Over 1-Month Low

2026-02-19 07:30 By Erika Ordonez 1 min. read

Nickel futures rose to around $17,600 per tonne, rebounding from a recent over one-month low amid steady demand from EV battery production and stainless steel manufacturing.

The renewed interest comes after markets adjusted to Indonesia’s 2026 nickel ore quota cuts announced in early February, which reduced permitted output compared with 2025 and initially triggered a sharp rally before profit-taking set in.

Consumption trends in China, particularly from the EV sector, continue to provide a stable demand base, reinforcing near-term pricing.

Market participants are also monitoring industrial activity and regional ore allocations, which could further influence the supply-demand outlook in the coming months.

While the market is still sensitive to Indonesian policy, prices remain tempered by ample global supply and limitations in refining capacity, which could weigh on further gains if these factors persist.



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