Pure nickel social inventory continued to accumulate last week

According to SMM research, pure nickel inventory in six regions across China stood at 13,178 mt as of November 3, up 1,423 mt from October 27. In detail, the inventory of nickel briquettes remained unchanged WoW, and that of nickel plates was 13,028 mt, up 1,423 mt. As nickel prices kept falling, downstream buyers were cautious, especially because downstream raw material stocks had not been fully used up. As a result, the spot market transactions remained sluggish.