Shanghai bonded refined nickel stocks fell 700 mt on week

SHANGHAI, Apr 16 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 700 mt from a week ago and stood at 9,300 mt as of April 16, showed SMM data.

Norwegian nickel and LME nickel briquettes entered China directly after customs clearance, while nickel plates flow out from the bonded area. Therefore, Shanghai bonded refined nickel stocks decreased for the seventh consecutive week.