SHANGHAI, Feb 11 (SMM) – Social inventories of refined nickel in Shanghai, excluding SHFE inventories, gained 1,000 mt, or 5.8%, over the Chinese New Year break to 18,100 mt as of Monday February 11, SMM data showed.
Arrivals of Jinchuan materials accounted for the increase.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)

