SMM

During the week, SMM refined nickel inventory in six major regions totaled 41,417 mt, up 1,529 mt WoW. The trend of increasing domestic electrodeposited nickel remained unchanged. December, the traditional off-season, combined with the need for year-end destocking by enterprises would lead to relatively cautious purchasing. With the continued increase in domestic refined nickel, the trend of inventory buildup both domestically and internationally is expected to continue.