Shanghai bonded refined nickel stocks remained unchanged on week

SHANGHAI, Jul 23 (SMM) – Inventories of refined nickel in the Shanghai bonded areas emained unchanged from a week ago and stood at 10,700 mt as of July 23, showed SMM data.

The ratio of SHFE nickel to LME nickel fluctuated and fell this week, and the import profit of nickel plates narrowed. At present, warehouse receipt transactions in bonded areas are sluggish, and bill of lading transactions dominate the market. The quotation of Russian nickel warehouse receipts still stood at around $200/mt, Sumitomo nickel warehouse receipts came in at around $210/mt, and the original nickel briquettes in the bonded area were quoted at $300/mt.