Pure nickel social inventory across China’s six major regions increased last week

According to SMM research, pure nickel inventory in six regions across China stood at 16,334 mt last week, up 2,588 mt from November 17. In detail, the inventory of nickel plates increased, and that of nickel briquettes remained unchanged WoW. The SHFE nickel prices fluctuated downward. Spot premiums remained relatively low and downstream demand recovered slowly. There were several transactions last week. However, influenced by the continuous increase in the supply of pure nickel, the demand growth is slower than the supply growth, leading to an accumulation of pure nickel social inventory.