Shanghai bonded nickel stocks fell 800 mt on week

SHANGHAI, Apr 30 (SMM) – Inventories of refined nickel in the Shanghai bonded areas declined this week as arrivals of forward cargoes directly entered the domestic market rather than flowing into the bonded warehouses. 

SMM data showed that inventories of pure nickel in the Shanghai bonded areas stood at 17,100 mt as of April 30, down 800 mt from last Friday. Stocks of cathodes fell to 15,400 mt, while those of briquettes were unchanged at 1,700 mt.

It is understood that forward cargoes, mostly Russian nickel cathodes and Australian briquettes, kept arriving at Chinese ports recently.