Shanghai bonded refined nickel stocks remained unchanged on week

SHANGHAI, Dec 25 (SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged from a week ago and stood at 22,000 mt as of December 25, showed SMM data.

Most of arrivals at the port this week went directly to the domestic market without being shipped into the bonded warehouse. In addition, the domestic import tariff on non-alloy nickel products will be reduced from 2% to 1% from January 1, 2021. If calculated according to the new provisional tariff, import loss still stands at about 2,000 yuan/mt, so it will be difficult for nickel plates in the bonded area to enter the domestic market in the near term.