Metals News
Nickel stocks jumped to their highest level since June 2018
Source:Wenhua Finance and Economics
The content below was translated by Tencent automatically for reference.

SMM: nickel inventories rose 12 per cent to 30831 tonnes from the previous week, the highest level since June 1, 2018, according to exchange data released on Friday.

The latest data show that LME nickel stocks are down 68 per cent so far this year and are now near an 11-year low of about 66474 tonnes.

Indonesia, the number one nickel ore producer, said earlier this year that it would ban exports of nickel ore from next year, leading refineries to seize supplies.

China is the world's largest consumer of nickel, mainly used to produce stainless steel and electric car batteries.

Data on Friday also showed that lead stocks jumped 34.7 per cent to 28850 tonnes, the highest level since the week of august 30.

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