Shanghai bonded nickel stocks rose 800 mt on week

Jun 19, 2020 17:32

Source:SMM

Inventories of refined nickel in the Shanghai bonded areas increased this week as a rally in the US dollar widened import losses of refined nickel to as much as 3,500 yuan/mt, prompting cargo holders to move seaborne arrivals at ports to the bonded warehouse. The SHFE/LME nickel price ratio stabilised at 8.0 this week.

SHANGHAI, Jun 19 (SMM) – Inventories of refined nickel in the Shanghai bonded areas increased this week as a rally in the US dollar widened import losses of refined nickel to as much as 3,500 yuan/mt, prompting cargo holders to move seaborne arrivals at ports to the bonded warehouse. The SHFE/LME nickel price ratio stabilised at 8.0 this week.

SMM data showed that the bonded stocks of refined nickel stood at 15,600 mt as of Friday June 19, up 800 mt on the week, with nickel cathode taking up all the increase.

Inventory data

Nickel

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Shanghai bonded nickel stocks rose 800 mt on week

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