Nickel rebounds, but 300-series inputs stay soft
LME nickel rebounded on 17 September, but Indonesian NPI and nickel ore softened while chrome inputs barely moved. India stainless prices stayed firm as tight scrap offset cautious demand.
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China & Global Inputs
LME official 3-month closing price for the completed 17 Sep 2026 session.
16 Sep 2026 close. The one-week comparison is not sourced this week and has been left out.
17 Sep 2026 average CIF delivered price in Indonesia.
Second-half September reference versus the first-half level.
17 Sep 2026 assessment.
16 Sep 2026 assessment.
India Domestic
Tight stainless scrap availability is supporting local prices despite cautious demand.
Market Read: Outlook & Risk Balance
Indonesia NPI and 1.4% ore softened on 17 September, while the ferrochrome tender index eased only 0.2% and South African high-carbon ferrochrome was unchanged. India stainless prices remain firm on tight scrap.
- LME 3M nickel
- Indonesia NPI and nickel ore
- China ferrochrome tender index
- India stainless scrap availability
Further Indonesian benchmark or quota changes could accelerate nickel-side easing; a mine, smelter or freight disruption could reverse it quickly.
Policy Watch
The cards
The same cards posted on social. Open one for the full size.
Source Attribution: Westmetall 17 Sep 2026 — https://www.westmetall.com/en/markdaten.php?action=table&field=LME_Ni_cash | SMM 11/17 Sep 2026 — https://news.metal.com/id/newscontent/104118575-smm-ringkasan-rapat-pagi-nikel-ekspektasi-kenaikan-suku-bunga-the-fed-as-tetap-tinggi-obligasi-as-terus-menguat-dan-kontrak-nikel-shfe-yang-paling-aktif-diperdagangkan-turun-di-bawah-tekanan-pada-perdagangan-awal | https://news.metal.com/newscontent/104120752-smm-analysis-bearish-factors-materialize-sentiment-recovers-supply-marginally-contracts-stainless-steel-inventory-slightly-destocks | SMM 17 Sep 2026 — https://www-old.metal.com/Nickel/202311230012 | https://news.metal.com/id/newscontent/104120095-smm-berita-kilat-nikel-pembaruan-indonesia-17-september-2026 | https://www-old.metal.com/chromium/202503270001 | SMM 16 Sep 2026 — https://news.metal.com/newscontent/104118082-smm-flash-news-indonesias-hpm-nickel-further-decreased-in-second-half-of-september | https://www-old.metal.com/Chromium/202412310001 | BigMint 16 Sep 2026 — https://www.bigmint.co/insights/detail/india-stainless-steel-prices-stay-firm-as-scrap-shortage-offsets-cautious-demand-790208
Published by Metal Dock B2B Trade Intelligence Desk · Wazirpur Industrial Area, Delhi
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