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  Waste Lead-Acid Battery Recyclers Show Improved Willingness to Ship Goods, Weak Consumption Leads to Poor Transactions in the Secondary Crude Lead Market [SMM Scrap Battery & Secondary Crude Lead Weekly Review]

• [SMM Analysis] Nickel prices closed higher after experiencing sharp fluctuations this week, while domestic inventory still increased significantly.

  Nickel prices continued to be dominated by expectations of tightening nickel ore production quotas (RKAB) in Indonesia for 2026, closing strongly higher after sharp swings. At the start of the week, the market digested previous gains and corrected due to inventory pressure, but mid-week, Indonesian officials reiterated quota reduction targets, strongly stimulating bullish sentiment and driving a robust rebound in nickel prices, with the most-traded SHFE nickel contract hitting the daily limit at its peak during the week.

• [Analysis] Nickel prices experienced sharp fluctuations this week but closed higher, while domestic inventories still increased significantly.

• Data: SHFE, DCE market movement (Jan 16)

  The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 16 Jan , 2026

• Copper Prices Retreat After Rapid Rise During the Week, Sluggish Fundamentals and Weak Consumption [SMM Macro Weekly Review]