LME Nickel Stocks Fell below 60,000 mt, SHFE Nickel Stocks Ended Six Consecutive Weeks of Declines

SHANGHAI, Aug 3 (SMM) - According to data released by the LME, since late April last year, LME nickel inventories have been in a downward trend. Last week, LME nickel inventories continued to fall, and the latest inventory level was 57,978 mt as of August 1, constantly refreshing multi-year lows.

SHFE nickel inventories rebounded last week after falling for six consecutive weeks and increased by 16.61% on a weekly basis to 1,741 mt as of July 29, but still a historically low.