The Social Inventory of Pure Nickel Increased Last Week amid the Poor Transactions

SHANGHAI, Aug 8 (SMM) - Pure nickel inventory in six regions totalled 7,516 mt last week, up 2,160 mt than a week ago. The inventory of nickel briquette declined 500 mt to 1,150 mt, and that of nickel plate added 2,260 mt to 6,366 mt. The reasons for the increase in nickel plate inventory were that the current spot prices of pure nickel were high, and the transactions were poor amid the downstream wait-and-see sentiment. With regard to nickel briquette, the salt factories still had rigid demand for nickel briquette as they signed long-term orders with the terminal enterprise. Moreover, the peak season of the new energy industry further contributed to falling briquette inventory.