SMM

According to the latest SMM survey, refined nickel inventory in the bonded zone was 4,000 mt last week, down 2,500 mt WoW. Nickel prices fell sharply last week. As overseas futures prices dropped more than domestic ones, the price spread between the two significantly narrowed. In response, some traders chose to import nickel plates stored in the bonded zone into the domestic market, resulting in a significant decrease in inventory in the bonded zone compared to last week.