Imports of Pure Nickel Spots Remained Profitable, and Bonded Zone Inventory Increased Slightly

SHANGHAI, Jun 10 (SMM) - LME nickel prices kept falling this week, while SHFE nickel prices remained rangebound at high levels, hence the spot imports of pure nickel gained profits. According to SMM research, the bonded zone inventory stood at 7,900 mt this week. The inventory of nickel briquette was 2,900 mt, and that of nickel plate was 5,000 mt, an increase of 500 mt WoW. The increase in inventory of nickel plate was contributed by the arrival of domestic traders' nickel plate. However, due to the high SHFE nickel prices and the high pure nickel spot prices, the downstream purchase was less than expected, and the customs clearance volume decreased this week.