According to the latest SMM survey data, refined nickel inventory in the bonded zone reached 3,100 mt this week, a decrease of 1,000 mt WoW. The survey showed that some overseas nickel plates were re-exported from the bonded zone to overseas, leading to a continued decrease in bonded zone inventory.
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)

