Shanghai bonded nickel stocks inched up 400 mt on week

SHANGHAI, Jan 17 (SMM) – Inventories of refined nickel in the Shanghai bonded areas edged higher this week, showed SMM data, as arrivals for December orders offset deliveries to domestic markets.

Stocks increased 400 mt in the week ended January 17 to 18,100 mt, with those of briquettes dipping 100 mt to 3,300 mt.

SMM learned that several hundreds of tonnes of Sumitomo nickel moved into domestic markets this week. SMM calculations showed the import losses averaged about 1,700 yuan/mt this week, compared to 2,700 yuan/mt for last week.