Shanghai bonded refined nickel stocks rose 800 mt on week

SHANGHAI, Feb 26 (SMM) – Inventories of refined nickel in the Shanghai bonded areas increased 800 mt from a week ago and stood at 18,400 mt as of February 26, showed SMM data.

Nickel prices continued to rise after the holiday, suppressing the domestic demand for refined nickel. Thousands of tonnes of nickel plates were moved into bonded warehouses to wait for import opportunities this week, while a small amount of nickel briquette flowed into domestic market. This also accounted for the slight increase in the nickel bonded stocks this week.