Spot Nickel Imports Maintained Sound Profits

SHANGHAI, Jan 7 (SMM) – The SHFE/LME nickel price ratio bottomed out this week, and the import window re-opened, which improved the profitability of traders. However, the increase in bonded zone inventory was mainly contributed by nickel plant, which may extend into next week, and they are expected to flow to the domestic market directly in light of tight domestic supply. The spot premiums were at a high level.

Looking into next week, the market shall watch the imports of NORNICKEL nickel, and the premiums.