Fact: Rzzro's price feed shows LME nickel at n/a and SHFE nickel at n/a.
The market signal is stainless steel demand and Indonesia supply. This is not a clean demand breakout; it is a balance between price pressure and supply discipline.
Rzzro view: buyers should separate spot price action from the upstream constraint that will matter most over the next 3-6 months.
What this means for buyers
Cover 1-3 months when LME nickel is below $17,500/mt. Watch stainless steel margins and Indonesia policy; nickel can move quickly when supply and battery demand shift together.