Nickel inventories in Shanghai bonded zone rose slightly

SMM data shows pure nickel stocks in Shanghai bonded zone rose 200 mt from two weeks ago, standing at 5,100 mt as of October 27, including 1,920 mt of nickel briquette and 3,180 mt of nickel plate. The inventory build-up in the bonded zone was due to consistently weak downstream demand, and the continuous increase in domestic refined nickel production. The domestic output can already meet the current downstream demand for nickel plates. It's expected that there will be a slight increase in nickel plate inventory in the bonded area this week.