Social Inventory of Nickel Plates Decreased only Slightly last Week due to the Slack Transactions

SHANGHAI, Aug 29 (SMM) - Pure nickel inventory in six regions across China dropped 295 mt to 7,397 mt last week. Among them, the inventory of nickel briquettes was 950 mt, flat from two weeks ago, and that of nickel plate stood at 6,447 mt, down 295 mt from a week earlier. On one hand, the futures prices remained high, and the terminals generally held a wait-and-see attitude because the futures still struggled for a direction in the short term. On the other hand, the high-temperature alloy sector purchased pure nickel on rigid demand. As for the nickel briquette, the social inventory did not drop while the bonded zone inventory fell sharply because of the salt plants' purchases on rigid demand.