15 January 2026 – Following the announcement by Indonesia’s Ministry of Energy and Mineral Resources (ESDM) that it intends to cut nickel mining quotas by up to 34%, nickel and stainless steel prices in Asia moved higher. At the same time, the controversial free trade agreement between the European Union and the Mercosur countries remains under severe strain: Hungary has announced legal action against the agreement, while planned EU steel tariffs could leave Mercosur states facing restricted market access without any import quotas. Source
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