Shanghai bonded nickel stocks added 300 mt on arrival of cathode

SHANGHAI, May 8 (SMM) – Inventories of refined nickel in the Shanghai bonded areas expanded this week due to an arrival of about 300 mt of nickel cathode. The holiday issue and closed import arbitrage window kept trades in the bonded zone muted this week. 

SMM data showed that inventories of pure nickel in the Shanghai bonded areas stood at 17,400 mt as of May 8, up 300 mt from April 30. Stocks of cathodes rose to 15,700 mt, while those of briquettes were unchanged at 1,700 mt.