Shanghai-bonded nickel stocks extend gains by 5.6% on week

Published: Jul 26, 2019 15:30

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Heavy import losses of 3,000 yuan/mt deterred outflows to domestic markets

SHANGHAI, Jul 26 (SMM) – Inventories of refined nickel in the Shanghai bonded areas continued to rise this week, as heavy import losses of 3,000 yuan/mt deterred outflows to domestic markets. Arrival of forward cargoes that were previously ordered amid open arbitrage window also grew the bonded stocks.

SMM data showed that stocks gained 1,000 mt, or 5.6% from a week ago to stand at 19,000 mt as of Friday July 26, after they accumulated 4,000 mt in the previous week.

Inventory data Nickel

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