Nickel inventories in domestic bonded zone rose

SHANGHAI, Jul 25 (SMM) – SMM data shows pure nickel stocks in Shanghai bonded zone remained unchanged from a week ago, standing at 4,900 mt, including 1,970 mt of nickel briquette and 2,930 mt of nickel plate. Due to the ongoing closure of the import window, the import of pure nickel priced in US dollars continues to incur losses. Adding to this, SHFE nickel prices have remained consistently strong last week, resulting in high absolute prices for spot nickel, and there have been very few customs clearances last week. This week, the bonded zone inventory is expected to rise slightly due to the anticipated arrival of goods from overseas.

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