SHANGHAI, Jul 17 (SMM) – Inventories of refined nickel in the Shanghai bonded areas expanded 800 mt from a week ago to 17,300 mt as of July 17, showed SMM data. That marked the fifth consecutive week of increase.
The import arbitrage window has kept closed since the beginning of July and the domestic refined nickel market has entered a low season. The arrival of forward cargoes accounted for the increase in the nickel bonded stocks this week.

![[Analyse SMM] Les réductions de production en Indonésie et la prudence avant les fêtes ralentissent la baisse des prix de la NPI](https://imgqn.smm.cn/usercenter/Btmsv20251217171733.jpg)
![[SMM Analysis] La demande en aval ne montre aucune amélioration alors que les prix des produits intermédiaires de nickel divergent](https://imgqn.smm.cn/usercenter/OjGlE20251217171734.jpg)
![[Analyse SMM] Les prix du nickel rebondissent et se maintiennent bien dans un contexte de réductions de la production de NPI en Indonésie et de rencontre sino-américaine](https://imgqn.smm.cn/usercenter/KFwsY20251217171734.jpg)
