Nickel stocks in the Shanghai bonded zone
totaled 22,600-31,600 tonnes on September 30, an increase of 12.4% from 19,600-28,600 tonnes at the end of August, according to Fastmarkets’ latest assessment. Market participants attributed the month-on-month rise primarily to a closed import arbitrage window.
The window to import nickel into China closed in late July and importers stood to lose around 5,000-6,000 yuan ($707-848) for each tonne of nickel plate cathode brought into the country on Monday October 21, trader sources said.
“In September, overall nickel stocks in the bonded zone did...