26 February 2025 – Asian nickel pig iron prices have risen almost continuously since the beginning of the year and have reached a new high today. Executive Order from US President Donald Trump targets copper imports into the United States.
Nickel pig Iron prices reach new record high for the year
Asian nickel pig iron (NPI) prices have risen almost continuously since the beginning of the year and today reached their highest level this year at USD 135.18/mtu.
Nickel ore quality in Indonesia continues to decline
This significant increase in NPI prices is partly due to the fact that one of the most important production areas in Indonesia has adjusted its production rate in order to reduce operating costs. At the same time, high-grade nickel ore stocks in Indonesia are relatively scarce and the nickel content in the major ore mining areas continues to decline according to recent media reports.
US government targets copper imports
With the Executive Order ‘Addressing the threat to national security from imports of copper’ published on 25 February 2025, US President Donald Trump has instructed the Secretary of Commerce to determine whether copper imports, similar to steel and aluminium, pose a threat to the national security of the United States.
Report and recommendations expected within the next 270 days
Recommendations on measures to mitigate such threats, including possible tariffs, export controls or incentives to increase domestic production, and policy recommendations to strengthen the copper supply chain in the United States through strategic investments, permitting reforms and increased recycling initiatives are also expected to be presented within 270 days.
Latest news
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- Major Indonesian nickel smelter about to close
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