Nickel inventories in Shanghai bonded zone increased slightly
SMM data shows nickel stocks in Shanghai bonded zone increased slightly last week, standing at 4,260 mt, including 1,700 mt of nickel briquette and 2,560 mt of nickel plate. Due to the significant rise in nickel prices both domestically and internationally, there may be an increase in exports.
Pure nickel social inventory in six regions across China rose slightly
According to SMM research, pure nickel inventory in six regions across China stood at 27,461 mt as of March 1, up 2,570 mt from Feb 23. Nickel briquettes inventories increased by 200 mt. SHFE nickel price saw a significant rise last week. According to SMM research, domestic nickel plate production has gradually returned to normal, leading to a stable increase in nickel plate supply. Due to the impact of high nickel prices, downstream plants was cautious, leading to reduced purchases. It is expected that social inventory will continue to experience a modest increase this week, influenced by nickel prices.
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