SHANGHAI, Oct 23 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased slightly by 500 mt from last Friday October 16 to 23,300 mt as of October 23, showed SMM data.
Inventories net outflow for the first time in nearly four months. The loss of refined nickel imports expanded to around -3,000 yuan/mt as nickel prices surged and then fell following LME nickel this week. The import window is unlikely to open in the near term. A small amount of nickel plates are shipped from bonded warehouse, but it is reported that they have not flowed into the domestic market yet. At the same time, some goods have arrived in bonded warehouse recently, and are still being sorted at the port, which have not been shipped into the bonded area yet. Those accounted for the decline in Shanghai bonded refined nickel stocks.