Shanghai bonded refined nickel stocks fell 1,000 mt on week

SHANGHAI, Dec 11 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 1,000 mt from a week ago and stood at 22,800 mt as of December 11, showed SMM data.

Nearly 1,000 mt of nickel plates were packed and shipped to LME Asia delivery warehouse, leading to a slight decline in inventories. The import window of duty-free nickel briquettes opened on Thursday night, while import loss of Russian nickel still stood at about 2,500 yuan/mt. That accounted for high inventories in the bonded area.