Pure Nickel Inventory in Domestic Bonded Areas Declined This Week

SHANGHAI, Oct 22 (SMM) – The lower premiums in the domestic spot markets combined with the two consecutive weeks of inventory increase lowered the SHFE/LME nickel price ratio early this week.

The import window closed at one point. However, due to the low domestic inventory and reverse arbitrage operation, the nickel price ratio trended higher. Over 1,000 mt of pure nickel arrived this week, and some companies moved the bonded zone inventories into the domestic market. Therefore, the overall inventory in the domestic bonded zone decreased.