SHANGHAI, Nov 16 (SMM) – Nickel inventories in the Shanghai bonded areas shrank 1,000 mt, or 3.3% from a week earlier to stand at 29,500 mt as of Friday November 16, SMM data showed.

As the import window opened in the second half of the week, importers moved cargoes from bonded warehouses to the domestic spot market.

Arbitrage opportunities also prompted importers to move seaborne cargoes directly to the market and this limited materials that entered bonded warehouses.