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Oct 18 (LTIT) –Inventories of refined nickel in the Shanghai bonded areas continued to fall this week, as wide price spreads with overseas markets lifted outbound shipments. SMM data showed that Shanghai bonded nickel stocks fell by 2,700 mt, or 11% from a week ago to 22,000 mt as of October 18. Briquettes accounted for 5,500 mt, down 500 mt from October 11. Nickel in Shanghai bonded areas is currently offered at a discount of about $100/mt, compared to a premium of around $100/mt for LME cash nickel over the three-month contract. |
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