Shanghai bonded refined nickel stocks fell 200 mt on week

Published: Jan 8, 2021 17:30

Save

Inventories of refined nickel in the Shanghai bonded areas decreased 200 mt from a week ago and stood at 22,800 mt as of January 8, showed SMM data.

SHANGHAI, Jan 8 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 200 mt from a week ago and stood at 22,800 mt as of January 8, showed SMM data.

Recently, traders' bills of lading have limited arrivals at port due to the overseas pandemic affecting the shipments. However, the import tariff of nickel plate fell to 1% after the New Year, which greatly narrowed the import loss. The window narrowed to a loss of 200 to 300 yuan/mt, so about 200 mt of nickel plates and nickel briquette which is not exempt from import duty flowed into the bonded area. It is expected that there will be certain nickel plate bills of lading arriving at port next week, which is likely shipped to China after direct customs clearance.

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

11 hours ago

[SMM Stainless Steel Flash] India's Stainless Steel Bright Bar Export Prices Remain Firm W-o-W Despite Weak Demand

India's stainless steel bright bar export market remained broadly stable in the week ended September 8, with sentiment largely unchanged from recent weeks. Geopolitical tensions, elevated freight costs, and CBAM requirements continued to suppress overseas buying interest, while European market activity stayed subdued due to the ongoing summer holiday period, with enquiries expected to gradually resume next week. Indicative export offers held at US$2,370–2,390/t FOB India for 304 bright bars and US$4,300–4,350/t for 316, with BigMint assessments at US$2,370/t and US$4,320/t FOB Nhava Sheva respectively, largely stable WoW. In domestic longs, 304 black bars rose INR 2,000/t WoW to INR 200,000/t exw-Mumbai, while 316 black bars gained INR 5,000/t to INR 363,000/t. Domestic 304 scrap edged up INR 2,000/t WoW to INR 151,000/t DAP Delhi, with tight availability keeping replacement costs elevated and limiting scope for price corrections in the near term.

11 hours ago

[SMM Stainless Steel Flash] EEC Extends Anti-Dumping Duty on Stainless Welded Pipes from China until September 2031

The board of the Eurasian Economic Commission (EEC) has extended the anti-dumping duty on welded pipes, tubes, and hollow profiles of corrosion-resistant (stainless) steel originating from China until September 7, 2031, based on the results of an investigation, according to a statement from the EEC's trade division.

11 hours ago

[SMM Stainless Steel Flash] India's SMEL Sees Stainless Steel Sales Rise 16.44% YoY in August 2026

According to a SMEL's company statement released on September 9, they achieved stainless steel sales of 10,920 mt in August 2026, up 16.44% YoY, with average stainless steel realizations rising 2.21% MoM compared to July 2026. In other segments, carbon steel flat product sales reached 29,262 mt (+114% YoY), specialty alloy sales came in at 19,002 mt (+2,797% YoY), while carbon steel long product sales declined 2.76% YoY to 142,897 mt.

11 hours ago