Shanghai bonded refined nickel stocks fell 500 mt on week

SHANGHAI, Jul 16 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 500 mt from a week ago and stood at 10,700 mt as of July 16, showed SMM data.

The ratio of SHFE nickel to LME nickel improved this week, and there were constantly import profit opportunities in the middle of the week, so all the goods at port were declared directly. Few nickel plates were moved into the bonded area, and nearly 500 mt of nickel plates were cleared after leaving the warehouse, so the stocks dropped to 10,700 mt.