Nickel plate inventory in Shanghai bonded areas little changed

SHANGHAI, Jul 13 (SMM) – Nickel plate inventories across bonded areas in Shanghai remained little changed over the week ended Friday July 13 and stood at some 60,000 mt as brisk transactions in an open import arbitrage window depleted increasing inflows into the areas, SMM data showed.

Inventories have held steady since the beginning of this month after five consecutive weeks of gains as outflows offset inflows.

As domestic inventories shrank, some traders remained keen to reroute international cargoes to bonded areas.

This week saw relatively brisk trades in the bonded areas as the import arbitrage window opened. Some Norilsk nickel flowed into the spot market.

SMM began to track nickel inventories across Shanghai bonded areas from May 25.