Nickel inventories in Shanghai bonded zone remained stable

SMM data shows pure nickel stocks in Shanghai bonded zone last week remained stable from two weeks ago, standing at 5,600 mt, including 1,970 mt of nickel briquette and 3,630 mt of nickel plate. Although nickel plate imports increased in the week ending September 15, bonded zone inventory did not accumulate significantly. This is mainly due to improved demand last week and downstream enterprises starting to build up inventory ahead of the holiday season. Bonded zone inventory is expected to show a slight decrease this week.