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

Published: Mar 19, 2021 17:49 (GMT+8)

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 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

8 mins ago

[SMM Nickel Market Flash] Indonesia’s IMIP RKEF Nickel Pig Iron Smelters Cut Operating Rates to Around 30%-40%

According to SMM market research, RKEF Nickel Pig Iron smelters at Indonesia’s IMIP industrial park started reducing production today, with some production lines now operating at around 30%-40% of normal load. Market sources said El Niño-related dry conditions have reduced rainfall and tightened water availability for equipment cooling and protection. If the current operating rate persists for half a month, Nickel Pig Iron output could be reduced by around 50,000-70,000 mt on a physical tonnage basis. Actual operating rates will continue to depend on weather and water supply conditions, and SMM will continue to monitor further developments.

8 mins ago

34 mins ago

SMM Nickel Flash: NPI Market Sentiment Mixed, Upstream Stable and Downstream Slightly Up Ahead of Holiday

[SMM Nickel Flash] On September 22, the SMM high-grade NPI market sentiment factor stood at 1.79, up 0.01 MoM. The upstream sentiment factor for high-grade NPI was 1.84, flat MoM, while the downstream sentiment factor for high-grade NPI was 1.74, up 0.02 MoM. With the holiday approaching, trading sentiment in the NPI market diverged, as some traders opted to withhold offers and suspend quotations, with wait-and-see sentiment intensifying.

34 mins ago

1 hour ago

Lygend Resources Sets A-Share IPO Price at RMB 21.23/Share, Raising RMB 3.67 Billion

Lygend Resources priced its A-share IPO at RMB 21.23 per share, offering 172.89 million shares and raising approximately RMB 3.67 billion. Following the clawback mechanism, 121.023 million shares were allocated to online investors, with an online winning rate of 0.0371%. Lygend Resources' business covers nickel ore trading and nickel product production and sales, with products including nickel ore, nickel pig iron, MHP, nickel sulfate, cobalt sulfate and electrolytic cobalt. Proceeds from the IPO will mainly fund a hydrometallurgical residue recycling demonstration project and an MHP refining project, supporting further expansion of its nickel and battery-materials businesses.

1 hour ago