Refined nickel social inventory in China’s six major regions increased last week

According to SMM research, pure nickel inventory in six regions across China stood at 18,307 mt, up 1,344 mt from December 15. In detail, the inventory of nickel briquettes decreased by 30 mt WoW. The domestic market experienced a slight decline. According to SMM research, there was an improvement in transactions for domestically produced nickel plates last week. Smelters who sourced raw material externally began to make profits, so domestic supply increased. In summary, considering the current situation where domestic supply exceeds demand, it is anticipated that nickel plates will continue to accumulate in inventory this week.