Refined Nickel Social Inventory Saw Slight Drop Last Week

During the week, SMM refined nickel inventory in six major regions totaled 42,101 mt, down 236 mt WoW. Domestic spot supply of refined nickel plates tightened slightly, leading to a small decrease of domestic inventory to supplement spot supply. However, it is understood that some domestically exported refined nickel plates will be re-imported this week, coupled with shrinking export profit margins, which may lead to a further accumulation of domestic inventory.