SMM Refined Nickel Social Inventory Remains at a Low Level, with Continuous Inventory Depletion

Published: Jan 13, 2025 10:29 (GMT+8)

Source: SMM

Save

During the week, SMM refined nickel inventory across six major regions totaled 39,855 mt, down 364 mt WoW.

During the week, SMM refined nickel inventory across six major regions totaled 39,855 mt, down 364 mt WoW. Nickel prices rose slightly during the week. As the futures market climbed last week, domestic spot premiums/discounts declined. However, overall market transactions were sluggish, with slight destocking.

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

[SMM Analysis] Indonesian Production Cuts and Pre-Holiday Caution Slow the Decline in NPI Prices

Indonesian production cuts slowed the decline in NPI prices, but rising port inventories and weak stainless steel demand kept buyers cautious. The NPI discount to refined nickel widened, modestly improving the economics of conversion to high grade matte, though direct NPI sales remained more profitable.

5 hours ago

[SMM Analysis] Downstream Demand Shows No Improvement as Nickel Intermediate Prices Diverge

MHP payables weakened amid ample supply and cautious downstream buying, while high grade nickel matte payables held steady. Despite a rebound in benchmark nickel prices, MHP’s nickel and cobalt component prices fell. Nickel intermediates are expected to remain under pressure in the near term.

5 hours ago

[SMM Analysis] Nickel Prices Rebound and Hold Up Well Amid Indonesian NPI Production Cuts and China-US Meeting

5 hours ago