Nickel Inventory in Shanghai Bonded Zone Remained almost Unchanged this Week

SHANGHAI, Apr 29 (SMM) - This week, LME nickel remained volatile. Due to the macro factors, SHFE nickel prices remained rangebound at high levels this week, and the price ratio was not improved. Nickel inventory in Shanghai bonded zone stood at 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 stagnated. At present, LME nickel has not regained its liquidity, but SHFE nickel prices are high due to the shortage of supply in China. If SHFE nickel prices are kept at the current level, the imports will gain profits.

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