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

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.