Shanghai bonded nickel stocks little changed in muted trades

SHANGHAI, Jun 12 (SMM) – Inventories of refined nickel in the Shanghai bonded areas were little changed this week, as trades were muted after import losses further widened on the underperformance of SHFE nickel against its LME counterpart.

SMM data showed that the stocks stood at 14,800 mt as of Friday June 12, unchanged from a week earlier.

The price ratio of SHFE nickel to LME nickel fell to around 8.0 this week, while price spreads averaged 3,350 yuan/mt. Arrivals of Russian nickel plates, on the other hand, flowed directly to domestic warehouses.