Shanghai bonded refined nickel stocks fell 2,100 mt on week

Published: Mar 19, 2021 17:49

Save

Inventories of refined nickel in the Shanghai bonded areas decreased 2,100 mt from a week ago and stood at 12,800 mt as of March 19, showed SMM data.

SHANGHAI, Mar 19 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 2,100 mt from a week ago and stood at 12,800 mt as of March 19, showed SMM data.

Nickel stocks fell for the third consecutive week. Nickel prices fluctuated almost sideways on week, and the import window opened in stages after the transaction in the bonded area recovered. Nickel plates and non-duty-free nickel briquette in the bonded area were moved into domestic market one after another after customs clearance. This also accounted for the sharp decrease in stocks in 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 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

5 hours ago

【SMM Flash News】Indonesia is Considering for Potential of Windfall Tax

Coordinating Minister Airlangga Hartarto announced Thursday that Indonesia is evaluating a coal export tax following a meeting with President Prabowo Subianto. The tax aims to capture "windfall profits" from surging global energy prices to boost state revenue and offset fiscal pressure from rising domestic fuel costs. While specific rates are under review, Hartarto emphasized that a broader windfall tax remains an option if high commodity prices persist. Currently, as there is no official regulations being released for the specific export tax or windfall tax being implemented to commodities, SMM will continue to monitor with the update of the regulations.

5 hours ago

[SMM Nickel Flash]COSCO SHIPPING Lines: Resumes New Booking Services to Middle Eastern Regions

[SMM Nickel Flash] COSCO SHIPPING Lines: Resumes New Booking Business to the UAE, Saudi Arabia, and Other Middle Eastern Regions. On March 25, COSCO SHIPPING Lines issued a service notice announcing the immediate resumption of new booking business (standard containers) from the Far East to the following countries in the Middle East: the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq.

5 hours ago

Nornickel Invests $100M in AI to Boost Palladium Demand Amid EV Shift

Russia’s MMC Norilsk Nickel PJSC is betting on artificial intelligence as part of a $100 million push to find additional uses for palladium as electric vehicles erode the metal’s main source of demand.Nornickel, the world’s biggest palladium producer, aims to create 1.7 million ounces of new annual consumption for the metal. That’s equivalent to almost a fifth of existing demand.

5 hours ago