Shanghai-bonded nickel stocks unchanged on week

SHANGHAI, Jun 28 (SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged from the previous week and stood at 15,900 mt as of Friday June 28, SMM data showed.

Limited cargoes moved out of the bonded warehouses as pledged goods accounted for most of the current bonded stocks. 

A backwardation structure in SHFE nickel in the first half of the week also prevented an inflow of imports into the bonded inventories. Some forward cargoes directly entered the domestic markets, SMM learned.