Bonded Zone Inventory Increased Slightly due to Weak Demand for Pure Nickel

SHANGHAI, Jun 24 (SMM) - Because of the macro factors, nickel prices in domestic and overseas markets continued to fall this week, and the imports of pure nickel spot remained profitable. According to SMM research, the bonded zone inventory stood at 7,700 mt this week. The inventory of nickel briquette was 2,900 mt, and that of nickel plate was 4,800 mt, a decrease of 700 mt WoW. The decrease in nickel plate inventory was caused by the less arrival of pure nickel and the downstream’s purchases on rigid demand. SMM expects that the spot imports will remain profitable next week, and some overseas nickel plates will flow into the bonded zone warehouses.