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

Published: Mar 19, 2021 17:49
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.

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 Nickel Flash: High-Grade NPI Prices Drop, Market Sees Intensified Long-Short Tug-of-War
Sep 18, 2026 17:21
SMM Nickel Flash: High-Grade NPI Prices Drop, Market Sees Intensified Long-Short Tug-of-War
Read More
SMM Nickel Flash: High-Grade NPI Prices Drop, Market Sees Intensified Long-Short Tug-of-War
SMM Nickel Flash: High-Grade NPI Prices Drop, Market Sees Intensified Long-Short Tug-of-War
[SMM Nickel Flash] On September 18, the average price of SMM 10-12% high-grade NPI fell by 33.1 yuan/nickel unit WoW to 1,062.4 yuan/nickel unit (ex-factory, tax included), while the average price of the Indonesia NPI FOB index dropped by $4.06/nickel unit WoW to $137.08/nickel unit. This week, the high-grade NPI market continued to drift lower overall, with the tug-of-war between longs and shorts intensifying.
Sep 18, 2026 17:21
SMM High-Grade NPI Sentiment Index Rises Slightly, Market Shows Clear Divergence
Sep 18, 2026 17:20
SMM High-Grade NPI Sentiment Index Rises Slightly, Market Shows Clear Divergence
Read More
SMM High-Grade NPI Sentiment Index Rises Slightly, Market Shows Clear Divergence
SMM High-Grade NPI Sentiment Index Rises Slightly, Market Shows Clear Divergence
[SMM Nickel Flash] On September 18, SMM's high-grade NPI market sentiment index stood at 1.79, up 0.02 MoM. The upstream sentiment index for high-grade NPI was 1.86, flat MoM, while the downstream sentiment index for high-grade NPI was 1.72, up 0.03 MoM. The NPI market is currently marked by clear divergence, with a persistent tug-of-war between longs and shorts.
Sep 18, 2026 17:20
[SMM Analysis] Inventory Accumulation and Weak Demand Push High-Grade NPI Lower in Search of a Bottom
Sep 18, 2026 17:03
[SMM Analysis] Inventory Accumulation and Weak Demand Push High-Grade NPI Lower in Search of a Bottom
Read More
[SMM Analysis] Inventory Accumulation and Weak Demand Push High-Grade NPI Lower in Search of a Bottom
[SMM Analysis] Inventory Accumulation and Weak Demand Push High-Grade NPI Lower in Search of a Bottom
The average price of SMM 10-12% high-grade NPI fell WoW by 33.1 yuan/nickel unit to 1,062.4 yuan/nickel unit (ex-factory, tax included), and the average Indonesia NPI FOB index price fell WoW by $4.06/nickel unit to $137.08/nickel unit. This week, the high-grade NPI market continued to drift lower overall, with the tug-of-war between longs and shorts intensifying.
Sep 18, 2026 17:03