SHFE STOCKS REPORT 14/06: Nickel inventories surge by 53%

Nickel stocks on the Shanghai Futures Exchange rose to 16,936 tonnes as of Friday, up by 5,835 tonnes or 52.6% from last Friday, according to the SHFE’s latest inventory report.

The largest inflow of nickel this week was registered at China Storage University in Shanghai, with 5,227 tonnes of the metal entering the warehouse. Poor demand for stainless steel has weighed on demand for nickel. But the trend in nickel prices and premiums is generally stronger because of other factors. The most-traded July nickel contract on the SHFE closed at 100,160...

Published

Karen Ng

June 14, 2019

12:43 GMT

Singapore