REUTERS SURVEY: Nickel market projected to be oversupplied by about 57,000 tonnes in 2026 and 50,000 tonnes in 2027.

On an Oct. 29 conference call, Xinyisheng said NPO product development is progressing smoothly and it expects batch shipments in 2027 with large-scale shipments possible in 2028. The company said capacity and materials are being coordinated closely with customers and capacity is being planned in advance. It expects NPO to become a major product line and a material contributor to results once volumes ramp.

Japan's finance minister Katayama said she will not comment on today's Bank of Japan decision.