Pure Nickel Social Inventory Drops as Nickel Prices Decline

SHANGHAI, Feb 13 (SMM) - According to SMM research, pure nickel inventory in six regions across China stood at 4,673 mt last week, down 453 from last Monday, which was basically in line with expectations. The inventory of nickel briquettes was 650 mt, up 100 mt WoW, and that of nickel plates was 4,023 mt, down 553 mt WoW. According to SMM research, the decline in nickel prices at the beginning of the week encouraged all downstream companies to restock. However, the rise in nickel prices in the later period aroused a wait-and-see sentiment among the downstream enterprises.