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Home / Metal News / Nickel Inventory in China Bonded Area Fell with Significant Inventory Decline for Nickel Briquette

Nickel Inventory in China Bonded Area Fell with Significant Inventory Decline for Nickel Briquette

Nov 26, 2021 14:37

Source:SMM

The SHFE/LME nickel price ratio surged before falling this week.

SHANGHAI, Nov 26 (SMM) - The SHFE/LME nickel price ratio surged before falling this week.

The low domestic inventory early in the week combined with the high premiums in the domestic spot market improved the SHFE/LME nickel price ratio. But the price ratio returned to the previous level with the arriving shipments of domestic nickel briquette and price cuts by Jinchuan Group.

The current price ratio still does not support a large inflow of imported cargoes. Nickel briquette inventory declined sharply, while nickel plate inventory accumulated slightly. The total inventory decreased over 500 mt.

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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