Nickel stocks in Shanghai-bonded areas hold stable

SHANGHAI, Jan 4 (SMM) – Nickel inventories in the Shanghai bonded areas changed little from a week ago and stood at 28,000 mt as of Friday January 4, SMM data showed.

Limited cargoes left bonded warehouses to the domestic markets this week due to a closed import arbitrage window and weak demand ahead of the Chinese New Year.

A small amount of seaborne cargoes arrived this week and they directly entered domestic markets. Almost no cargoes entered the bonded area this week.