Shanghai bonded nickel stocks fell as coronavirus delayed arrivals

Published: Apr 17, 2020 15:57

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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.

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.

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.

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