China’s refined nickel output dropped 0.21% from March to 13,000 mt in April. Operating rates across nickel smelters remained unchanged on the month at 59%, down 7 percentage points from a year ago.

According to customs data, China imported 10,407 mt of refined nickel (including unwrought unalloyed nickel with the total amount of nickel and cobalt ≥99.99% and cobalt ≤0.005%, and other unwrought unalloyed nickel) in January 2021, a month-on-month decrease of 12.41%, but a year-on-year increase of 31.82%.

Inventories of refined nickel in the Shanghai bonded areas decreased 1,500 mt from a week ago to 11,300 mt as of March 26, showed SMM data.

The Development and Reform Commission of Inner Mongolia Autonomous Region, the Department of Industry and Information Technology, and the Energy Bureau have issued the Several Measures to Ensure Control of Energy Consumption recently. Local lead and zinc concentrate mines and refined zinc smelters have been required to control their energy consumption which cannot exceed the level in the same period last year.

Pure nickel traders have closed their accounts last week. As prices of SHFE nickel continued to fall after speculative funds left the market, some buyers entered the market. Limited quotes combined with scarce available cargoes bolstered spot prices.

SHFE nonferrous metals broadly fell on Thursday December 31 as multiple markets closed early for New Year's Eve.

Shanghai base metals mostly cruised lower on Tuesday morning, while their counterparts on the LME rose for the most part as market sentiment was boosted after Trump signed into law the $2.3 trillion pandemic aid and spending package.

Nonferrous metals on the SHFE were mostly higher on Wednesday morning, while their counterparts on the LME also advanced for the most part.

SHFE nonferrous metals rose for the most part on Tuesday November 8 as investors remained cautious over rising coronavirus cases, U.S. stimulus negotiations as well as Brexit talks between the U.K. and the European Union.

Inventories of refined nickel in the Shanghai bonded areas rose 1,000 mt from a week ago and stood at 24,300 mt as of November 6, showed SMM data.