Nickel inventory in Shanghai bonded areas up 6% on the week

Published: Aug 3, 2018 15:46

Save

Nickel stocks in Shanghai bonded warehouses grew 6% from a week ago to 61,000 mt as of Friday Aug 3

SHANGHAI, Aug 3 (SMM) – Nickel stocks in Shanghai bonded warehouses grew 6% from a week ago to 61,000 mt as of Friday August 3, SMM data showed.

Arrivals of cargoes for previously signed forward contracts accounted for the increase.

A closed import arbitrage window earlier this week also hindered some materials from flowing out of the bonded areas to the domestic market.

Inventory data Nickel

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

14 mins ago

High-Grade NPI Prices See Slight Rebound Amid Flat Supply and Low Demand Before Holiday

[SMM Nickel Flash] February 6 - Supply side, market offers were basically flat, with the price center showing a slight increase. Demand side, there was no substantial procurement demand before the holiday, but transactions were difficult to conclude at low prices. Overall, high-grade NPI prices saw a slight rebound, and significant fluctuations are unlikely to continue before the holiday.

14 mins ago

20 mins ago

SMM High-Grade NPI Price Rises to 1,040 Yuan/mtu on Feb 6, Market Sentiment Slightly Down

[SMM Nickel Flash] On February 6, the SMM average price for 10-12% high-grade NPI was 1,040 yuan/mtu (ex-factory, tax included), up 2.5 yuan/mtu MoM from the previous working day. The market sentiment factor for high-grade NPI was 2.06, down 0.04 MoM; the upstream sentiment factor for high-grade NPI was 2.84, down 0.07 MoM; and the downstream sentiment factor for high-grade NPI was 1.28, flat MoM.

20 mins ago

23 hours ago

[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.

Affected by macro sentiment, MHP and high-grade nickel matte prices declined this week.

23 hours ago