Shanghai bonded refined nickel stocks rose 800 mt on week

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.