Social Inventory of Pure Nickel Declined Slightly Last Week amid the Poor Transactions

Published: Aug 22, 2022 09:39

Source: SMM

Save

Pure nickel inventory in six regions totalled 7,692 mt last week, down 92 mt than a week ago. Nickel briquette inventory stood at 950 mt, flat from a week ago.

SHANGHAI, Aug 22 (SMM) - Pure nickel inventory in six regions totalled 7,692 mt last week, down 92 mt than a week ago. Nickel briquette inventory stood at 950 mt, flat from a week ago. Nickel plate inventory stood at 6,742 mt, down 92 mt from a week ago. Although the futures prices were high, there were sporadic transactions amid the rigid demand of superalloy enterprises. In terms of nickel briquette, the prices were about 4,000 yuan/mt higher than that of nickel sulphate. Therefore, salt plants had little demand for nickel briquette, and the transactions were poor.

Market

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

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

Domestic High-Grade NPI Costs Drop, but Profit Margins Squeeze Amid Falling Selling Prices

[SMM Nickel Flash] Domestic high-grade NPI production costs declined this week. Lower Philippine nickel ore prices, coupled with a pullback in coke prices, reduced smelting raw material costs. However, NPI selling prices fell significantly over the same period, dragging on profitability and narrowing profit margins for domestic smelters.

3 hours ago

SMM 10-12% High-Grade NPI Price Drops to 1,095.5 Yuan/Unit, Indonesia NPI FOB Index Falls to $141.14/Unit

[SMM Nickel Flash] The average price of SMM 10-12% high-grade NPI fell by 17.7 yuan/nickel unit WoW to 1,095.5 yuan/nickel unit (ex-factory, tax included), while the average price of the Indonesia NPI FOB index dropped by $2.93/nickel unit WoW to $141.14/nickel unit. This week, the high-grade NPI market continued to weaken, with the price center moving steadily lower. Upstream and downstream price negotiations intensified, and the market entered a stalemate, consolidating at lows.

3 hours ago

[SMM Analysis] High-Grade NPI Prices Decline as Supply Recovers and Market Activity Slows

The average price of SMM 10-12% high-grade NPI fell WoW by 17.7 yuan/nickel unit to 1,095.5 yuan/nickel unit (ex-factory, tax included), and the average price of the Indonesia NPI FOB index fell WoW by $2.93/nickel unit to $141.14/nickel unit. This week, the high-grade NPI market continued to weaken, with the price center shifting steadily lower. Price negotiations between upstream and downstream intensified, and the market entered a phase of stagnant consolidation at lows.

3 hours ago