Nickel inventories in Shanghai bonded zone fell slightly last week

SHANGHAI, Sep 25 (SMM) –SMM data shows pure nickel stocks in Shanghai bonded zone fell slightly from two weeks ago, standing at 5,400 mt last week, including 1,970 mt of nickel briquette and 3,430 mt of nickel plate. Domestic demand for imported nickel fell, which has led to a decrease in orders for oversea nickel plate and, consequently, a reduction in imports. However, downstream demand is expected to pick up due to pre-holiday stockpiling for the upcoming National Day holiday. As a result, it is anticipated that inventory in the bonded zone will continue to decline slightly this week.