Social Inventory and Bonded Zone Inventory of Pure Nickel in March Decreased

SHANGHAI, Apr 19 (SMM) - Compared with March 10, the social inventory and bonded zone inventory of pure nickel declined 18.63% and 15.69% MoM respectively as of April 7. The social inventory of pure nickel fell slightly as expected as the decline in nickel prices and improving downstream profits boosted the demand from alloy companies while the increase in electrowinning nickel output was limited. Although the import window was closed, the bonded zone inventory still declined as some traders locked the SHFE/LME nickel price ratio to import and some new energy companies still had a small demand for nickel briquette.