LME nickel inventory continued declining since entering June, but again turned upward to 461,436 tons at the time of trade closing on June 19 (= at the time of trade opening on June 22), which reflected an increase of 2,886 tons from the prior day. This increase was for the first time in 12 working days.

The increase or decrease in the designated warehouses on June 19 was the increase by 1,920 tons in Johor, the increase by 870 tons in Rotterdam, the increase by 114 tons in Singapore and the decrease by 18 tons in Baltimore, which resulted in an increase by a total of 2,886 tons as aforementioned.

This increase in the inventory made a state of oversupply reacknowledged, and the price for both cash seller and 3-month seller became softened in the trading on June 22.

• [Editor:Zhang Xing]