According to the latest SMM survey data, nickel inventory in the bonded zone reached 3,600 mt this week, with an inventory buildup of 500 mt WoW. The survey indicated that this was mainly due to a 500 mt increase in nickel briquette in the bonded zone.


![[SMM Analysis] Tight MHP Market and High Payables Amid Supply Constraints and Geopolitical Tensions](https://imgqn.smm.cn/usercenter/CjEnN20251217171733.jpg)
