During the week, SMM refined nickel inventory in six major regions totaled 37,261 mt, down 168 mt WoW. Warehouse warrants continued to increase during the week, but social inventory dropped. Nickel prices remained low, transactions were relatively active, but the inventory buildup trend did not change.


![[SMM Analysis] Demanda de compra externa downstream fraca; preços do sal de níquel caíram esta semana](https://imgqn.smm.cn/usercenter/KFwsY20251217171734.jpg)
