LME data showed that the nickel inventory began to drop after hitting a four-month high on December 30, 2022. Last week, the inventory declined further. On January 13, 2023, the inventory fell to a one-month low of 53,262 mt. On January 16, the inventory grew slightly, with the latest data of 53,268 mt.
According to SHFE data, the nickel inventory has fluctuated within a wide range in recent months. Last week, the inventory bounced back by 3.07% to 3,020 mt.