Shanghai bonded refined nickel stocks remained unchanged on week

SHANGHAI, Sep 11 (SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged from a week ago and stood at 20,800 mt as of September 11, showed SMM data.

Nickel prices remained unchanged for three consecutive weeks. Foreign trades remained curbed, with import losses once narrowing to about -2,000 yuan/mt. 

800 mt of the nickel plates arrived at ports this week, and almost all of them entered domestic warehouses. Some holders have not shipped the imported good to bonded warehouses as the import window of nickel plates are unlikely to open in the near term with high stocks of domestic refined nickel. This accounted for the stable situation in the nickel bonded stocks this week.