Bonded Zone Inventory of Nickel Dropped Slightly this Week amid the Poor Demand

SHANGHAI, Aug 12 (SMM) - At the beginning of the week, affected by the domestic and overseas nickel futures prices, the imports of overseas pure nickel spots remained profitable though the SHFE/LME nickel price ratio narrowed. According to SMM research, the bonded zone inventory stood at 6,500 mt this week. The inventory of nickel briquette was 3,400 mt, and that of nickel plate was 3,100 mt, a decrease of 500 mt WoW, because the spot transactions improved slightly at the beginning of the week. However, with the rebound of SHFE nickel prices, the demand for pure nickel weakened.