SHANGHAI, Nov 19 – The SHFE/LME nickel price ratio remained low this week. But the concentrated buying on the dip lowered the domestic nickel inventory.
The price spread between the SHFE front-month and next-month contracts widened with the exodus of bears of the SHFE front-month contract on Thursday evening. The nickel price ratio began to rally.
The domestic supply tightness is expected to intensify if the domestic demand remains stable and the nickel price ratio remains at the current level. As such, the import window is likely to reopen.