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Forward arrivals grow nickel stocks in Shanghai-bonded areas on week

iconJan 11, 2019 17:14
Source:SMM
Stocks increased 1,000 mt, or 3.6%, from a week ago and stood at 29,000 mt as of Friday Jan 11

SHANGHAI, Jan 11 (SMM) – Nickel inventories in the Shanghai bonded areas increased 1,000 mt, or 3.6%, from a week ago and stood at 29,000 mt as of Friday January 11, SMM data showed.

Arrival of forward cargoes grew bonded stocks in a closed import arbitrage window. Downstream buyers continued to purchaseas needed this week, and traders also kept in-plant inventories at lows before CNY. 

Buyers mostly purchased from domestic traders, and barely moved cargoes from the bonded warehouses, which accumulated bonded stock. 

Inventory data
Nickel
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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