Pure nickel social inventory will rise further 

According to SMM research, pure nickel inventory in six regions across China stood at 11,557 mt in the week ending October 13, up 1,002 mt from October 6. In detail, the inventory of nickel briquettes was 175 mt, remained unchanged WoW, and that of nickel plates was 11,382 mt, up 1,002 mt. The continuous increase in domestic electrowinning nickel production, coupled with the declining competitiveness of imported nickel plates in the spot market, has led to a buildup of inventory. This has resulted in a sustained accumulation of domestic social inventory.