Pure nickel social inventory increased significantly last week

According to SMM research, pure nickel inventory in six regions across China stood at 18,918 mt, up 2,524 mt from January 5. After a spike in SHFE nickel price last Wednesday evening, the spot market faced sluggish trading. According to SMM research, rising nickel prices affected downstream purchasing sentiment. Coupled with the impact of arriving cargoes, pure nickel inventory significantly increased last week.