Shanghai bonded nickel stocks extended decline in open import arbitrage window

Published: Nov 8, 2019 14:40

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Stocks fell by 600 mt, or 3.1% from a week ago to 18,500 mt as of Nov 8

SHANGHAI, Nov 8 (SMM) – Inventories of refined nickel in the Shanghai bonded areas continued to fall this week, lowered by flows to domestic markets in an open import arbitrage window.

Profits on imported nickel exceeded 1,000 yuan/mt as of November 8, according to SMM calculations.

SMM data showed that Shanghai bonded nickel stocks fell by 600 mt, or 3.1% from a week ago to 18,500 mt as of November 8.

Briquettes accounted for 6,600 mt, up 1,500 mt from a week earlier.

Inventory data Nickel

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