Greater outflows, limited arrivals lower nickel stocks in Shanghai-bonded areas

SHANGHAI, Jan 18 (SMM) – Nickel inventories in the Shanghai bonded areas decreased by 1,000 mt, or 3.4%, from a week ago and stood at 28,000 mt as of Friday January 18, SMM data showed.

Low stocks across domestic markets and pre-holiday stockpiling drove cargoes in the bonded areas to domestic markets.

A short turnaround for customs declaration and cash pressures ahead of the Chinese New Year holiday limited arrivals at Chinese ports.