SHEF to LME Nickel Ratio Reached High Early This Week, Encouraging Inflow of Spot in Bonded Areas

Published: Jul 30, 2021 18:19

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The SHEF to LME nickel ratio rallied from low, and once hit 7.55 within the week.

SHANGHAI, Jul 30 (SMM) – The SHEF to LME nickel ratio rallied from low, and once hit 7.55 within the week. Small import opportunities of spot nickel plate in bonded areas emerged, encouraging inflow of spot into domestic market. Deals made by orders still dominated market transactions. Quotation from Russia warehouse receipt remained around 200 USD/mt, Sumitomo reported near 210 USD/mt, and the bonded areas quoted 300 USD/mt of nickel beans.

nickel inventories

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