Shanghai bonded nickel stocks fell as coronavirus delayed arrivals

SHANGHAI, Apr 17 (SMM) – Inventories of refined nickel in the Shanghai bonded areas fell this week, as shipments under bill of lading were delayed due to COVID-19 related lockdowns while there were flows from bonded areas to domestic markets. 

SMM data showed that inventories of pure nickel in the Shanghai bonded areas stood at 17,900 mt as of Friday April 17, down from 18,600 mt a week earlier.

Stocks of cathodes declined 500 mt to 16,200 mt, while those of briquettes fell 200 mt to 1,700 mt. SMM learned that the 500 mt of nickel cathode outflows from bonded warehouses this week have yet to be declared to customs.

Concentrated arrivals of seaborne refined nickel at Chinese ports are expected at the end of this month.