Shanghai bonded refined nickel stocks rose 1,000 mt on week

Published: Oct 16, 2020 16:54

Save

Inventories of refined nickel in the Shanghai bonded areas expanded slightly by 1,000 mt from last Friday October 9 to 23,800 mt as of October 16, showed SMM data.

SHANGHAI, Oct 16 (SMM) – Inventories of refined nickel in the Shanghai bonded areas expanded slightly by 1,000 mt from last Friday October 9 to 23,800 mt as of October 16, showed SMM data.

The import window remained closed, and it is difficult to ship Russian nickel under long-term contracts to China, leading to the continuous increase in stocks from June. The loss of refined nickel imports narrowed again to around -2,500 yuan/mt as nickel prices rebounded this week, the exchange rate was lowered.

The nickel bonded stocks are expected to continue to pile up in the following weeks.

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 to learn 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

55 mins ago

[SMM Nickel Midday Commentary] On March 26, influenced by expectations surrounding the policy of “Indonesia's proposed levy of a nickel export tax,” nickel prices rose significantly

55 mins ago

2 hours ago

【SMM Flash News】Indonesia's HPM Forecasted to Decrease 1.37% in Early April

SMM forecasts a marginal softening in the Indonesian domestic nickel ore benchmark (HPM) for the first half of April 2026, with prices expected to decline by 1.37%. This downward adjustment is primarily driven by a $236.56/dmt drop in the HMA, which is projected to settle at $17,093/dmt. Based on an MC35% calculation, the revised HPM targets across key grades are as follows: • Ni 1.2%: USD 17.33/wmt (↓ $0.24) • Ni 1.6%: USD 30.22/wmt (↓ $0.42) • Ni 1.7%: USD 34.00/wmt (↓ $0.47) • Ni 1.8%: USD 38.00/wmt (↓ $0.53) • Ni 2.0%: USD 46.66/wmt (↓ $0.65)

2 hours ago

【SMM Nickel Flash News】Nickel Industries Suspends Hengjaya Mine Operations Following Fatality

According to Nickel Industries Announcement, Nickel Industries Limited has officially suspended all operations at its Hengjaya Mine in Indonesia following a fatal incident reported on March 25, with a formal investigation by the Ministry of Energy and Mineral Resources (ESDM) set to commence on March 27.

2 hours ago