Shanghai-bonded nickel stocks decline in open arbitrage window

SHANGHAI, Jun 21 (SMM) – Inventories of refined nickel in the Shanghai bonded areas shrank 1,000 mt, or 5.9% from Friday June 14 to stand at 15,900 mt as of Friday June 21, SMM data showed. This came after a drop of 3,000 mt in the previous week. 

Bonded cargoes continued to move into the domestic market, driven by an open import arbitrage window in the first half of the week. Limited imports arrived at the bonded warehouses this week, with forward cargoes directly entering the domestic markets.