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Home / Metal News / Import Window Remains Closed For Nickel

Import Window Remains Closed For Nickel

Nov 19, 2021 17:39

Source:SMM

The SHFE/LME nickel price ratio remained low this week. But the concentrated buying on the dip lowered the domestic nickel inventory.

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.

nickel inventory

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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