Bonded Zone Inventory of Nickel Dropped Slightly due to the Weak Downstream Demand

SHANGHAI, Jul 29 (SMM) - The SHFE/LME price ratio expanded this week, but due to the weak demand, the clearance volume of overseas pure nickel was less. According to SMM research, the bonded zone inventory stood at 6,300 mt this week. The inventory of nickel briquette was 2,700 mt, down 200 mt WoW, and that of nickel plate was 3,600 mt. The decrease in nickel briquette inventory this week was caused by the slightly growing demand from the ternary battery and the purchases on rigid demand from some salt plants.