Nickel ore inventories at Chinese ports rose 252,000 wmt to 5.95 million wmt

SHANGHAI, Jun 4 (SMM) — Nickel ore inventories across all Chinese ports increased 252,000 wmt from May 28 to 5.95 million wmt as of June 4, showed SMM data.

In Ni content, the stocks stood at 46,800 mt.

SMM data also showed that nickel ore stocks across seven major Chinese ports increased 72,000 wmt during the same period to 4.27 million wmt.

Nickel ore inventories piled up this week. However, the shipping schedule was delayed due to the bad weather in the Philippines, and the Surigao mining area, the largest shipping area, was seriously affected. In addition, there are more new production lines of ferronickel in China recently, so nickel ore inventories at Chinese ports in the second quarter will post slower increase compared with the same period of last year.