SHANGHAI, Nov 2 (SMM) – Nickel inventories in the Shanghai bonded areas shrank 3,500 mt, or 10% from last Friday to stand at 31,500 mt as of November 2, SMM data showed.
With an open import arbitrage window from last week, importers continued to move cargoes from bonded warehouses to the domestic spot market.
Arbitrage opportunities also prompted importers to move forward cargoes directly to the market. This limited materials that entered into bonded warehouses.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)
