According to data released by the London Metal Exchange (LME), LME nickel inventories continued to drop last week and reached a new low for many years, standing at 39,630 mt as of May 4. LME nickel inventories rebounded last Friday and currently stand at 40,110 mt.
SHFE nickel inventories have been falling for three consecutive weeks and decreased by 21.81% in the week of May 5 to a record low of 1,115 mt.
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