Weak Consumption Keeps India Nickel Cathode Market Under Pressure Through June

India’s Nickel cathode market weakened through June as fading geopolitical risk premiums and sluggish domestic demand pressured prices. Early-month stability shifted into sharper declines after mid-June, when easing geopolitical tension removed part of the LME risk premium and prompted downstream buyers to adopt more cautious procurement. Structural factors added complexity: Indonesia’s output adjustments and rising refined inventories created a push-pull effect between underlying supply tightness and immediate selling pressure. By month’s end, sentiment was clearly bearish, with mills reducing order volumes and traders showing limited short-term interest. Overall, Nickel cathode closed June under a soft tone shaped by weaker consumption, shifting risk dynamics and a market still balancing supply constraints against persistent downside pressure across the Nickel cathode landscape.

India’s Nickel cathode demand moved unevenly through June, shaping a market under clear downward pressure. The stainless-steel sector remained notably weak as domestic mills reduced...