Shanghai-bonded nickel stocks decline despite import losses

SHANGHAI, May 24 (SMM) – Inventories of refined nickel in the Shanghai bonded areas shrank 1,000 mt, or 4.2% in the week ended May 24 and came in at 22,800 mt, SMM data showed.

Despite import losses, bonded inventories declined as the losses were not significant enough to deter cargoes from entering the domestic market, where inventories stayed low.

Seaborne arrivals did not grow bonded stocks as they directly moved into the domestic market.