Bonded Zone Inventory of Nickel Decreased this Week as the Price Ratio Improved

SHANGHAI, Jul 22 (SMM) - The price ratio gradually recovered this week, and the spot imports gained considerable profits even though the US dollar was high. According to SMM research, the bonded zone inventory stood at 6,500 mt this week. The inventory of nickel briquette was 2,900 mt, and that of nickel plate was 3,600 mt, a decrease of 1,300 mt WoW. The lower nickel inventory was contributed by the falling futures prices, the better demand for overseas pure nickel that was aroused by the improvement of the domestic alloy sector, and the recovered SHFE/LME nickel price ratio.