All base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday August 30, with the biggest percentage fall in nickel stocks, which tumbled by 15.2% or 4,509 tonnes to 25,262 tonnes.
The largest outflow in nickel inventories was from CMST Dachang’s warehouse in Shanghai, which delivered out 3,927 tonnes leaving 12,981 tonnes of material, according to SHFE’s latest inventory report.
“Chinese demand is still quiet on the whole, and it seems that crazy gains on the SHFE nickel contract boosted…