Pure Nickel Inventory in Bonded Zone Contracted while Social Inventory Climbed

Compared with February 10, the social inventory of pure nickel showed a trend of accumulation on March 10, up 24.98%. The stock of pure nickel in the bonded area fell 32%. In terms of pure nickel social inventory, the increase in domestic electrowinning nickel production in 2023 has presaged slightly ample supply of domestic pure nickel. Combined with lower-than-expected actual downstream demand, pure nickel social inventory accumulated as expected. In terms of bonded zone inventories, import window opened many times during the month, and traders seized the opportunity to clear the cargoes, therefore bonded zone inventories declined.