Bonded Zone Inventory of Nickel Falls 200 mt from March 10

SHANGHAI, Mar 17 (SMM) - Bonded zone inventory of nickel dropped 200 mt to 4,900 mt WoW as of March 17, with the inventory of nickel briquettes and nickel plates standing at 1,370 mt and 3,530 mt respectively, which was in line with market expectations. During the week, the nickel prices continued to decline due to the macro front, and downstream companies bought some nickel plates. In terms of nickel briquettes, although the spread between nickel briquettes and nickel sulphate shrank amid the decline in nickel prices, the production of nickel sulphate with nickel briquettes still cannot gain profits. Nickel briquette demand from the stainless steel sector was low, thus the bonded zone inventory of nickel briquettes fell only 100 mt this week.