SHANGHAI, Jan 18 (SMM) – Nickel inventories in the Shanghai bonded areas decreased by 1,000 mt, or 3.4%, from a week ago and stood at 28,000 mt as of Friday January 18, SMM data showed.
Low stocks across domestic markets and pre-holiday stockpiling drove cargoes in the bonded areas to domestic markets.
A short turnaround for customs declaration and cash pressures ahead of the Chinese New Year holiday limited arrivals at Chinese ports.
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