Shanghai bonded refined nickel stocks fell 2,100 mt on week

SHANGHAI, Mar 19 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 2,100 mt from a week ago and stood at 12,800 mt as of March 19, showed SMM data.

Nickel stocks fell for the third consecutive week. Nickel prices fluctuated almost sideways on week, and the import window opened in stages after the transaction in the bonded area recovered. Nickel plates and non-duty-free nickel briquette in the bonded area were moved into domestic market one after another after customs clearance. This also accounted for the sharp decrease in stocks in the bonded area.