SHANGHAI, Apr 15 (SMM) - This week, LME nickel maintains a volatile trend. Although the trend of SHFE nickel prices is strong, the imports are still at losses. Nickel inventory in Shanghai bonded zone was 8,200 mt this week. The inventory of nickel briquettes and nickel plates was 2,900 mt and 5,300 mt respectively, flat from last week. Due to the COVID-19 outbreak, the operation in Shanghai bonded zone stagnates. At present, the circulation of LME nickel has not recovered. Moreover, due to weak demand, the SHFE nickel prices are under pressure. Therefore, the import will remain at losses next week.
The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.