Bonded Zone Inventory of Nickel Increased Slightly as the SHFE/LME Price Ratio Narrowed

SHANGHAI, Aug 5 (SMM) - Affected by the domestic and overseas nickel futures prices, The SHFE/LME price ratio narrowed this week. According to SMM research, the bonded zone inventory of nickel stood at 7,000 mt this week. The inventory of nickel briquette was 3,400 mt, up 700 mt WoW, and that of nickel plate was 3,600 mt. In the peak season of the new energy industry, the demand from the ternary battery rose slightly, and the nickel sulphate output increased. In addition, some salt plants still purchased nickel briquette on rigid demand based on their long-term orders.