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

Published: Feb 10, 2021 14:41 (GMT+8)

Save

Inventories of refined nickel in the Shanghai bonded areas increased 1,000 mt from a week ago and stood at 17,600 mt as of February 10, showed SMM data.

SHANGHAI, Feb 10 (SMM) – Inventories of refined nickel in the Shanghai bonded areas increased 1,000 mt from a week ago and stood at 17,600 mt as of February 10, showed SMM data.

Nickel prices continued to strengthen on week, and the import loss narrowed to about 400 yuan/mt. However, foreign trade market was still tepid. In addition, about 1,000 mt of Russian nickel plates arrived at port and moved into the bonded warehouse, so stocks in the bonded area first increased in 2021.

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

4 hours 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.

4 hours ago

5 hours ago

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

5 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.

5 hours ago