Today’s snapshot — 2026-09-29
Top mover: Nickel extended its slide to $16,165.0/t (-220.00, -1.34%), a third straight declining session on the Kallanish print, even as Brent eased and copper rebounded modestly.
Notable prices:
- Nickel = $16165.0 (-220.00, -1.34%)
- Zinc = $3861.55 (-44.35, -1.14%)
- Iron Ore 62% Fe CFR China = $96.00 (-1.20, -1.23%)
- HMS 1&2 80:20 FOB Rotterdam = $359.28 (2.00, 0.56%)
Headline driver: No brief-stated driver ties directly to nickel or zinc today; the sanitized desk brief’s main theme is easing Gulf freight risk (Saudi resumed Yanbu tanker loadings, Brent and WTI both fell) alongside a Pakistan shredded market unchanged from Monday — physical still $417-420/MT vs supplier offers $420-425/MT CFR Qasim.
Action signal: Wait on non-ferrous fixing — nickel and zinc’s third straight declining session strengthens the case to reopen supplier talks rather than fix; hold Pakistan ferrous buying at $417-420, no chasing the $420-425 offer zone without an executable buyer.