SHANGHAI, Feb 5(SMM) – Inventories of refined nickel in the Shanghai bonded areas remained unchanged from a week ago and stood at 16,600 mt as of February 5, showed SMM data.
The import window only opened briefly on Monday this week, and then turned into a continuous loss state. Therefore, few refined nickel from bonded areas flew into domestic market, and cargoes under long-term contracts arriving at port were also limited.

![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)

