Pure Nickel Social Inventory Grows Slightly on Rising Nickel Prices

SHANGHAI, Apr 17 (SMM) - According to SMM research, pure nickel inventory in six regions across China stood at 4,775 mt last week, up 23 mt from the previous Friday. Nickel briquette inventory stood at 340 mt, down 60 mt WoW, and nickel plate inventory was 4,435 mt, up 83 mt. Overseas pure nickel premiums remained firm last week, slightly pushing up the nickel plate inventory. Losses of nickel sulphate produced with nickel briquettes were offset by the profits gained from precursor, thus some producers in the new energy sector still processed nickel sulphate with nickel briquettes amid MHP or scrap shortages.