Shanghai bonded nickel stocks expanded 400 mt from last Friday

Published: Jun 24, 2020 16:21 (GMT+8)

Save

Inventories of refined nickel in the Shanghai bonded areas extended their increase this week as import losses stayed at high levels with the exchange rate of the US dollar edging lower against the Chinese yuan. Trades were muted at the bonded zone.

SHANGHAI, Jun 24 (SMM) – Inventories of refined nickel in the Shanghai bonded areas extended their increase this week as import losses stayed at high levels with the exchange rate of the US dollar edging lower against the Chinese yuan. Trades were muted at the bonded zone.

SMM data showed that the bonded stocks of refined nickel stood at 16,000 mt as of June 24, up 400 mt from last Friday, with nickel cathode taking up all the increase.

Some forward cargoes of nickel cathode entered the bonded warehouses this week, and some imports directly entered the domestic social warehouses without flowing into the bonded area.

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

1 hour ago

[SMM Analysis] Weak Demand and Rising Substitution Advantage Push High-Grade NPI Price Center Downward

[SMM Analysis: Weak Demand and Rising Substitution Advantage Drag Down High-Grade NPI Price Center] The average price of SMM 10-12% high-grade NPI fell 7.9 yuan/nickel unit WoW to 1,029.4 yuan/nickel unit (ex-factory, tax included). The average price of the Indonesian NPI FOB index fell 0.7 $/nickel unit WoW to 133.2 $/nickel unit. This week, the high-grade NPI market continued to drift lower, with the price center moving down steadily and bearish sentiment intensifying.

1 hour ago

2 hours ago

[SMM Analysis] Downside Risks for Cobalt Salt Prices Remain, Nickel Intermediate Product Payables Stay Weak This Week

2 hours ago

[SMM Nickel Flash] Indonesia Approves Revised 2026 RKAB Nickel Ore Production Quota of Approximately 290 Million Tonnes

According to Tri Winarno, Director General of Minerals and Coal at Indonesia’s Ministry of Energy and Mineral Resources (ESDM), the Indonesian government has approved a revised 2026 RKAB nickel ore production quota of approximately 290 million tonnes Previously, the Indonesian government had initially set the 2026 RKAB nickel ore production target at around 250–260 million tonnes.

2 hours ago