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SHANGHAI, Jul 31 (SMM) – Inventories of refined nickel in the Shanghai bonded areas rose this week, as seaborne arrivals were moved to bonded warehouses in a closed import arbitrage window.
SMM data showed that the stocks increased 1,000 mt in the week ended July 31 to 18,300 mt, and plate-shaped products accounted for the increase. The stocks have risen for six weeks in the past seven.
SMM expects the bonded nickel stocks to continue to climb in August.
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