Pure Nickel Social Inventory Falls Slightly Last Week

SHANGHAI, Mar 6 (SMM) - According to SMM research, pure nickel inventory in six regions across China stood at 4,874 mt last week, down 347 from the previous Friday, which was in line with market expectations. The inventory of nickel briquettes was 600 mt, down 150 mt WoW, and that of nickel plates was 4,274 mt, down 197 mt WoW. Some downstream companies restocked some nickel plates on the crashing nickel prices. Nickel briquette inventory fell owing to the sharp fall in the premiums and the shipments to stainless steel mills as well as spot delivery to the Wuxi market.