Shanghai bonded refined nickel stocks remained unchanged during the CNY holiday

Published: Feb 18, 2021 17:24 (GMT+8)
Inventories of refined nickel in the Shanghai bonded areas remained unchanged during the Chinese New Year holiday and stood at 17,600 mt as of February 18, showed SMM data.

SHANGHAI, Feb 18 (SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged during the Chinese New Year holiday and stood at 17,600 mt as of February 18, showed SMM data.

The import window remained closed before the CNY holiday amid tepid foreign trade, while the warehouses in the bonded area suspended operation during the CNY holiday. In addition, it was learned that no goods under long-term contracts arrived at port during the holiday. This also accounted for the stable situation in the nickel bonded stocks this week.

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
[SMM Analysis] Weak Demand and Rising Substitution Advantage Push High-Grade NPI Price Center Downward
4 hours ago
[SMM Analysis] Weak Demand and Rising Substitution Advantage Push High-Grade NPI Price Center Downward
Read More
[SMM Analysis] Weak Demand and Rising Substitution Advantage Push High-Grade NPI Price Center Downward
[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
[SMM Analysis] Downside Risks for Cobalt Salt Prices Remain, Nickel Intermediate Product Payables Stay Weak This Week
5 hours ago
[SMM Analysis] Downside Risks for Cobalt Salt Prices Remain, Nickel Intermediate Product Payables Stay Weak This Week
Read More
[SMM Analysis] Downside Risks for Cobalt Salt Prices Remain, Nickel Intermediate Product Payables Stay Weak This Week
[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
5 hours ago
[SMM Nickel Flash] Indonesia Approves Revised 2026 RKAB Nickel Ore Production Quota of Approximately 290 Million Tonnes
Read More
[SMM Nickel Flash] Indonesia Approves Revised 2026 RKAB Nickel Ore Production Quota of Approximately 290 Million Tonnes
[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