SHANGHAI, Nov 9 (SMM) – Nickel inventories in the Shanghai bonded areas shrank 1,000 mt, or 3.2% from last Friday to stand at 30,500 mt as of November 9, SMM data showed.
As the import window remained open during the first half of this week, importers moved 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 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)
