Shanghai bonded refined nickel stocks remained unchanged on week

SHANGHAI, Dec 4 (SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged from a week ago and stood at 23,800 mt as of December 4, showed SMM data.

 
Arrivals increased on week, and most of nickel briquette are booked for downstream, so they enter China through direct customs clearance. Nickel plating from Japan and Norway has also arrived at the port, and it is not expected to move into the bonded area for the time being. Meanwhile, import loss remained above-3,000 yuan/mt, which caused few transactions in the bonded area.