Shanghai-bonded nickel stocks decline 5.7% on week

SHANGHAI, Jul 5 (SMM) – Inventories of refined nickel in the Shanghai bonded areas shrank 900mt, or 5.7% from a week ago to stand at 15,000 mt as of Friday July 5, SMM data showed.

Despite import losses, cash-in demand and the fulfillment of arbitrage operations drove cargoes in bonded areas to domestic markets, resulting in lower bonded stocks.

Arrivals did not grow bonded stocks, either, as they directly entered the domestic markets.