Shanghai bonded refined nickel stocks fell 200 mt on week

SHANGHAI, Jan 8 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 200 mt from a week ago and stood at 22,800 mt as of January 8, showed SMM data.

Recently, traders' bills of lading have limited arrivals at port due to the overseas pandemic affecting the shipments. However, the import tariff of nickel plate fell to 1% after the New Year, which greatly narrowed the import loss. The window narrowed to a loss of 200 to 300 yuan/mt, so about 200 mt of nickel plates and nickel briquette which is not exempt from import duty flowed into the bonded area. It is expected that there will be certain nickel plate bills of lading arriving at port next week, which is likely shipped to China after direct customs clearance.