On February 10, Indonesia's Ministry of Energy and Mineral Resources officially announced the 2026 RKAB nickel ore mining quota: a nationwide target of 260 million tons (wet tons), a sharp drop of approximately 30% from 379 million tons in 2025; the quota for Weda Bay, the world's largest nickel mine, was cut from 42 million tons to 12 million tons, a decrease of over 71%. Coupled with Indonesia's suspension of new smelting licenses for nickel pig iron, MHP, and high-grade nickel matte, and the implementation of a floating resource tax (14%-19%), global nickel prices rebounded.

According to data from SunSirs, as of February 12, 2026, the average price of domestic electrolytic nickel was 145,300 RMB/ton, an increase of 6.64% compared to 136,250 RMB/ton on February 8.

In the futures market, the SHFE nickel main contract 2603 closed at 139,400 RMB/ton on February 11 (+4.02%), breaking through 140,000 yuan during the session; the main contract closed at 139,600 RMB/ton on February 12 (+1.79%).

To help investors identify and capitalize on investment opportunities in cyclical stocks, SunSirs has launched a value cyclical stock investment method. Cyclical stocks specifically refer to listed companies that produce raw materials, whose profits are affected by fluctuations in raw material prices. Therefore, utilizing SunSirs's raw material price data to identify buy signals for cyclical stocks in advance of quarterly and annual reports is an important method for investing in cyclical stocks.

With tightening overseas supply, if electrolytic nickel prices in the first quarter positively reflect the supply-demand relationship, the biggest beneficiaries will be companies in Indonesia with mines, integrated operations, and high self-sufficiency, such as Huayou Cobalt, with three major hydrometallurgical projects in Indonesia, equity nickel production of 5.5 million tons, and a self-sufficiency rate exceeding 60%; a 10% increase in nickel prices increases net profit by approximately 18%; Shengton Mining's Indonesian nickel pig iron production of 120,000 tons/year, with a self-sufficiency rate of over 60%; GEM Co., Ltd.'s Indonesian Qingmeibang project and recycled nickel projects, with long-term secured contracts; Qingdao Zhongcheng's Indonesian nickel mine equity of over 150 million tons, with a revaluation of mining rights; Luoyang Molybdenum's Indonesian Pomalaa copper-nickel mine, with an annual capacity of 180,000 tons; and Zhongwei Co., Ltd.'s Indonesian nickel smelting capacity of nearly 200,000 tons, a leading precursor manufacturer with a complete industry chain layout.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.