SHANGHAI, Sep 4 (SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged from a week ago and stood at 20,800 mt as of September 4, showed SMM data.
Nickel prices halted its rise and started to decline. The import window of nickel plates and nickel briquettes remained closed this week and foreign trades remained curbed.
1,000 mt of the nickel plates arrived at ports this week, and some entered domestic warehouses, and the remaining shipments are to be imported instead of flowing to bonded warehouses. 600 mt of nickel briquette are also to be imported. This accounted for the steadiness in the nickel bonded stocks this week.