SHFE base metals stocks decline; nickel inventories plunge 28%

Deliverable stocks of base metals in Shanghai Futures Exchange (SHFE)-registered warehouses were uniformly down in the week to Friday March 24, with those for nickel dropping the most, according to the exchange’s weekly stock report.

Nickel stocks totaled 2,146 tonnes on Friday, marking a 28.1% fall from 2,986 tonnes on March 17. The largest outflow of nickel was recorded at the Zhongchu Wuxi warehouse in...