Nickel stocks in Shanghai-bonded areas dip 14% from end-Sep

Published: Oct 12, 2018 16:41

Save

Nickel inventories in Shanghai bonded areas fell 14% from the end of Sep to stand at 37,000 mt as of Oct 12

SHANGHAI, Oct 12 (SMM) – Nickel inventories in the Shanghai bonded areas decreased 14%, or 6,000 mt from the end of September to stand at 37,000 mt as of October 12, SMM data showed.

With an open import arbitrage window, importers continued to move Russian cargoes from bonded warehouses to the domestic spot market even as import earnings thinned at the end of September.

Arbitrage opportunities also prompted importers to move October’s forward cargoes directly to the market. This limited materials that entered into bonded warehouses.

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

15 mins ago

[SMM Nickel Flash] US Faces 742,000 mt Nickel Deficit by 2035 Amid Zero Smelting Capacity

The United States currently operates no domestic nickel smelters, leaving North America entirely reliant on just two remaining pyrometallurgical facilities in Canada. Compounding this critical supply chain vulnerability, a recent report by the Carnegie Endowment for International Peace projects that the US will face a massive annual nickel deficit of approximately 741,987 tonnes by 2035. To address this severe shortfall, awaruite (a naturally occurring nickel-iron alloy) is emerging as a strategic solution. Because awaruite concentrate can bypass traditional smelting and be directly converted into nickel sulfate, it is favorably positioned to qualify for the US Section 45X Advanced Manufacturing Production Credit, helping to secure domestic defense and EV battery supply chains.

15 mins ago

16 mins ago

[SMM Nickel Flash] Canadian Awaruite Project to Bypass Smelting with 60% Ni Concentrate

According to industry reports, the Pipestone XL project in Newfoundland, Canada, is advancing its awaruite (Ni₃Fe) nickel-cobalt deposit to supply the North American defense and energy storage sectors. Awaruite, a naturally occurring, sulfur-free magnetic alloy containing approximately 77% nickel, enables the production of a high-grade ~60% nickel concentrate through simple magnetic separation and flotation. This unique metallurgical profile completely bypasses carbon-intensive pyrometallurgical smelting and early hydrometallurgical stages like high-pressure acid leaching (HPAL).

16 mins ago

[SMM Stainless Steel Flash] European Stainless Prices Hit 18-Month High Amid Rising Costs

According to market research, European stainless steel producers successfully lifted prices in March, driven by rising scrap costs, volatile energy prices, and limited import competition. Transaction prices for grade 304 cold-rolled coil reached an 18-month high as all European producers implemented month-on-month increases. Domestic mills are seeing improved order books, with lead times now extending into June and some delivery delays reported, particularly for ferritic materials. Producers are targeting further increases for July production, with some offers for grade 304 cold-rolled sheet already around $2,916/mt (EUR 2,700). Market participants note that mills aim for a target selling price of approximately $3,240/mt (EUR 3,000) in the coming months.

16 mins ago