Shanghai-bonded nickel stocks rebound 28.6% on week

SHANGHAI, Jul 19 (SMM) – Inventories of refined nickel in the Shanghai bonded areas rose this week, as wider losses on imports deterred outflows to domestic markets and as shipments that were delivered when the arbitrage window was open, arrived.

SMM data showed that stocks gained 4,000 mt, or 28.6% from a week ago to stand at 18,000 mt as of Friday July 19. This was the first weekly increase in 10 weeks.