SHANGHAI, Jun 14 (SMM) – Inventories of refined nickel in the Shanghai bonded areas declined 3,000 mt, or 15.1% from Thursday June 6 to stand at 16,900 mt as of Friday June 14, SMM data showed.
An open arbitrage window encouraged the outflows of seaborne materials from bonded areas to domestic markets, as import profits came in at 2,500 yuan/mt as of Friday and averaged 1,500 yuan/mt for the week.
Seaborne arrivals during the week did not grow bonded inventories as they entered domestic markets directly.
