Refined nickel inventory in the bonded zone saw a significant increase last week

According to the latest SMM survey, refined nickel inventory in the bonded zone last week was 4,200 mt, an increase of 200 mt WoW. Nickel prices fell sharply last week, with overseas futures dropping more than the domestic market, leading to a significant narrowing of the price spread between the two. Some traders, taking advantage of the narrowed price spread, found sufficient profit margins to import high-priced nickel into the domestic market. As a result, the final inventory in the bonded zone saw a significant increase last week.