Shanghai bonded refined nickel stocks fell 1,000 mt on week

SHANGHAI, Apr 2 (SMM) – Inventories of refined nickel in the Shanghai bonded areas decreased 1,000 mt from a week ago and stood at 10,300 mt as of April 2, showed SMM data.

The import window closed again this week, while there were still over 1,000 mt of nickel plates entering domestic market after customs clearance. In addition, a small amount of LME nickel briquettes and Norwegian nickel plates arrived at port on week, while they all entered domestic market directly and were not moved into bonded warehouses. This also accounted for the fifth consecutive weeks of increase in stocks in the bonded area.