Shanghai bonded nickel stocks inched up 400 mt on week

Published: Jan 23, 2020 14:18 (GMT+8)

Save

There was about 18,500 mt of pure nickel in the Shanghai bonded areas on Thursday January 23

SHANGHAI, Jan 23 (SMM) – Inventories of refined nickel in the Shanghai bonded areas continued to edge higher this week, on the back of the arrival of shipments for December orders.

SMM data showed that there was about 18,500 mt of pure nickel in the Shanghai bonded areas on Thursday January 23, up 400 mt from last Friday January 17. Stocks of briquettes rose 100 mt during the same period to 3,400 mt.

Trades of imported nickel were muted in the last week ahead of the Chinese New Year, as the import arbitrage window remained closed. SMM calculations showed that losses on imported nickel averaged 2,184 yuan/mt this week, compared to 1,700 yuan/mt for last week.

Discounts of LME cash nickel widened to $80.5/mt this week, indicating a well-supplied 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 for 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

8 hours ago

[SMM Flash News] Indonesia Names PT CNI Corporate Suspect in Rp401.65 Billion Nickel Governance Case

Indonesia’s Attorney General’s Office has named PT Ceria Nugraha Indotama (CNI) as a corporate suspect in an alleged nickel commodity governance corruption case in Southeast Sulawesi during 2017–2020. Prosecutors also named four individuals as suspects. The case allegedly involved nickel exports without fulfilling DMO requirements, inaccurate nickel-grade testing documents, export recommendation issuance before RKAB approval, and incomplete RKAB document verification. The alleged state loss was estimated at Rp401.65 billion. The case may increase market attention on historical nickel export compliance, RKAB administration, and third-party assay verification procedures in Indonesia’s mining sector.

8 hours ago

Sep 25, 2026 15:45 (GMT+8)

[SMM Stainless Steel Flash] India Extends AD Probe on Stainless CRC from China, Indonesia and Vietnam by 6 Months

India's Directorate General of Trade Remedies (DGTR) issued a notification on September 22, confirming the central government's approval to extend the anti-dumping investigation deadline on stainless steel cold-rolled flat products originating in or exported from China, Indonesia, and Vietnam by six months, from September 28, 2026 to March 28, 2027. The extension maintains the original product scope covering 300 and 400 series coils, strips, sheets, plates, and circles, without issuing any findings or preliminary duty rates. The investigation, which commenced on September 29, 2025, covers specific austenitic, ferritic, and martensitic grades, excluding hot-rolled flat products, duplex grades, and 200-series products with specific nickel content levels.

Sep 25, 2026 15:45 (GMT+8)

Sep 24, 2026 16:47 (GMT+8)

[SMM Analysis] Indonesian Production Cuts and Pre-Holiday Caution Slow the Decline in NPI Prices

Indonesian production cuts slowed the decline in NPI prices, but rising port inventories and weak stainless steel demand kept buyers cautious. The NPI discount to refined nickel widened, modestly improving the economics of conversion to high grade matte, though direct NPI sales remained more profitable.

Sep 24, 2026 16:47 (GMT+8)