Shanghai-bonded nickel stocks hold stable at 21,800 mt

SHANGHAI, Aug 16 (SMM) – Inventories of refined nickel in the Shanghai bonded areas held stable this week, as wider import losses and the end of concentrated arrivals deterred flows into or out of bonded warehouses.

SMM data showed that stocks remained unchanged from a week ago, at 21,800 mt as of Friday August 16, after four consecutive weekly increases.

Imported losses widened to an average of 7,000 yuan/mt this week. Most of the forward cargoes that were ordered when the arbitrage window was open arrived at Chinese ports during the second half of July to the start of August.