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Slow trades keep Shanghai-bonded nickel stocks unchanged

iconMar 29, 2019 16:01
Source:SMM
Inventories barely changed from a week ago and stood at 28,600 mt as of Mar 28

SHANGHAI, Mar 29 (SMM) – Inventories of refined nickel in the Shanghai bonded areas barely changed from a week ago and stood at 28,600 mt as of Friday March 29, SMM data showed.

The import arbitrage window remained closed despite lower value-added tax rates. This lowered the appeal of imported materials.

Traded cargoes this week are unlikely to enter the domestic market before the VAT cuts take effect next Monday. This also deterred traders or downstream consumers from purchasing cargoes from bonded areas.

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

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