Nickel inventory in Shanghai bonded areas change little on the week

SHANGHAI, Sep 7 (SMM) – Nickel stocks in Shanghai bonded warehouses changed little from a week ago at 52,000 mt as of Friday September 7, SMM data showed. Foreign arrivals and the amount of Norilsk nickel that moved from bonded areas to the domestic market were limited during the week.

Forward cargoes grew bonded area stocks by the end of August. With oversupply in the domestic market and the closure of the import window last week, there were few deliveries of Norilsk nickel into the spot market.