Shanghai bonded refined nickel stocks fell 2,000 mt on week

SHANGHAI, Jan 29(SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 2,000 mt from a week ago and stood at 16,600 mt as of January 29, showed SMM data. 
 
Terms of trade improved recently due to low inventories of refined nickel in domestic social warehouses. As a result, nickel plates in the bonded area gradually flowed into China, and most of them are Russian nickel goods under long-term contracts for 20 years. In addition, a small number of bills of lading from Russian nickel and Australian nickel beans arrived at port this week, and they all entered China through direct customs clearance. Therefore, Shanghai bonded refined nickel stocks decreased for the fourth consecutive week.