SHANGHAI, Nov 1 (SMM) – Inventories of refined nickel in the Shanghai bonded areas continued to fall this week, as importers moved their cargoes into the domestic market on financing demand after import losses narrowed to 500 yuan/mt on the improved SHFE/LME nickel price ratio.
SMM data showed that Shanghai bonded nickel stocks fell by 1,000 mt, or 5% from a week ago to 19,100 mt as of November 1.
Briquettes accounted for 5,100 mt, unchanged from a week earlier.
Trades of bonded nickel were muted in the second half of the week, as import losses widened again.
