India has set a 1,500 GW clean electricity target and is pushing to build an independent supply chain for critical minerals, including processing and recycling hubs for lithium, cobalt, nickel and rare earths. The policy note says China dominates the refining of most strategic minerals and argues India must break that dependence. It also frames electrifying transport as a non-negotiable route to reduce reliance on imported oil. The direction reinforces expectations of structural demand for nickel in the battery supply chain while increasing long-term pressure to substitute away from crude imports.

President Donald Trump said the U.S. and Iran reached a peace agreement, easing Middle East risk and boosting expectations that the Strait of Hormuz will reopen. U.S. crude oil futures fell 4.7% on the day to around $80 a barrel, while the Dow rose to a record high and the S&P 500 and Nasdaq gained 1.5% and 2.3%. Markets also priced in the idea that lower oil could curb inflation and reduce the likelihood of further Fed hikes. CME FedWatch showed the probability of rates staying unchanged by year-end at more than 98%.