According to the latest SMM survey, refined nickel inventory in the bonded zone last week was 4,160 mt. Nickel prices continued to decline after rebounding last week, with the persisting price gap between domestic and overseas markets, making nickel plate imports still difficult. Therefore, stocks in the bonded zone held flat WoW and are expected to fall this week.
![[SMM Analysis] Weak Nickel Caps Chinese Stainless Steel Futures in a Tight Range as Mill Price Discipline](https://imgqn.smm.cn/production/admin/votes/imagesLDoQB20260703182347.png)
![[SMM Analysis] Nickel and Cobalt Salt Prices Weak; Intermediate Product Payables Under Pressure](https://imgqn.smm.cn/usercenter/yaAtG20251217171733.jpg)
![[SMM Analysis] Indonesia's nickel ore HMA sharply cut by 7.6%, high inventories in China and Indonesia suppress nickel ore market sentiment](https://imgqn.smm.cn/usercenter/vcoVV20251217171732.jpeg)
