Nickel inventories
Nickel inventories in Shanghai bonded zone increased slightly
SMM data shows nickel stocks in Shanghai bonded zone increased slightly last week, standing at 4,460 mt,
including 1,700 mt of nickel briquette and 2,760 mt of nickel plate. Due to the significant rise in nickel prices
both domestically and internationally, there may be an increase in exports.
Pure nickel social inventory in six regions across China rose slightly
According to SMM research, pure nickel inventory in six regions across China stood at 27,607 mt as of March 8, up 146 mt from March 1. Nickel briquettes inventories decreased by 457 mt. SHFE nickel price continue to rise last week. According to SMM research, high nickel prices have made downstream plants more cautious, resulting in decreased procurement. Some stocked up as their raw materials are about to run out. It is expected that social inventories will continue to accumulate slightly this week, influenced by nickel prices.
Please do not hesitate to contact Jean at jeantang@smm.cn or 86-19946295759 if you have any question or inquiry.
