Pure nickel social inventory fell last week

SHANGHAI, Sep 25 (SMM) –According to SMM research, pure nickel inventory in six regions across China stood at 8,674 mt in the week ending September 22, down 492 mt from the week ending September 15. In detail, the inventory of nickel briquettes was 150 mt, remained unchanged WoW, and that of nickel plates was 8,524 mt, down 492 mt. Due to the drop in nickel prices, the spot prices reached recent lows, coupled with downstream pre-holiday stockpiling, short-term demand is improving, and there was a slight reduction in social inventories last week. It is expected that social inventories will continue to decrease slightly this week.