Stronger yuan lowers nickel stocks in Shanghai-bonded areas by 3.3% on week

Published: Dec 7, 2018 16:49

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Stocks stood at 29,000 mt as of Friday Dec 7, SMM data showed

SHANGHAI, Dec 7 (SMM) – Nickel inventories in the Shanghai bonded areas shrank 3.3%, or 1,000 mt from last Friday, to stand at 29,000 mt as of Friday December 7, SMM data showed.

A stronger yuan narrowed import losses, and this pushed some importers to move cargoes from bonded warehouses to the domestic spot market, which accounted for the overall decline in bonded stocks.

Limited forward cargoes arrived at bonded warehouses this week, SMM learned.

Inventory data Nickel

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