SHANGHAI, Feb. 25 (SMM) – Shanghai Futures Exchange is expected to further expand its nickel storing capacity to meet growing demand for nickel deliveries.
As of Feb. 25, 201, nickel for deliveries on the SHFE climbed to 61,398 tonnes. Warehouses belonging to Shanggang Logistics and CMST’s Dachang are full, and Shanghai Guochu Tianwei Warehousing only has a storing capacity of 1,773 mt left.
The bourse, after increasing its storing capacity by 30,000 tonnes last October, is estimated to grow its capacity by another 20,000 tonnes to 90,000 tonnes.
SMM expects CMST’s Dachang and Shanggang Logistics to expand nickel storing capacity at their warehouses in this round.
Last October, Shanghai Guochu Tianwei Warehousing added its warehousing capacity from 10,000 tonnes to 30,000 tonnes, and Shanggang Logistics Metal Warehousing (Shanghai) also expanded its capacity from 10,000 tonnes to 20,000 tonnes, bringing total storing capacity up to 70,000 tonnes.
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