SMM

During the week, SMM refined nickel inventory in six major regions totaled 42,101 mt, down 236 mt WoW. Domestic spot supply of refined nickel plates tightened slightly, leading to a small decrease of domestic inventory to supplement spot supply. However, it is understood that some domestically exported refined nickel plates will be re-imported this week, coupled with shrinking export profit margins, which may lead to a further accumulation of domestic inventory.