Nickel cathode prices in India eased through mid March ****, pressured by steady seaborne inflows and a neutral supply-demand balance that outweighed intermittent downstream buying. Early-month strength driven by robust stainless-steel melt activity gave way to mid-month selling as routine cargo arrivals and comfortable port receipts reduced urgency among buyers. Meanwhile, intermittent upstream anxiety—prompted by Indonesian licence actions and geopolitical shipping risks—kept Nickel cathode traders cautious and created short-lived bid lifts, but these were insufficient to sustain a firm uptrend through the middle of March. Overall, Nickel cathode market sentiment remained range-bound with headline downward pressure prevailing into mid March.
Demand patterns were mixed across end-uses, which helped shape February price movements: stainless-steel demand remained the dominant support while plating and chemicals showed restraint. Stainless-steel melt production continued to outperform, growing above *.** year-on-year and absorbing the bulk of nickel cathode usage; this supported restocking and offtake...
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