SMM

According to the latest SMM survey, refined nickel inventory in bonded zone was 4,160 mt last week. Affected by riots in overseas nickel raw material production areas, nickel prices rose sharply last week, and LME nickel prices far outperformed SHFE nickel prices. Therefore, export profits further expanded. Some domestic nickel plates may be transported to bonded area last week for future export. It is expected that refined nickel inventories in bonded area will continue to fall this week.