China Nickel Ore Inventories Keep Growing Slightly, SMM Reports, with Price Declines to Continue

SHANGHAI, May 2 (SMM) – Nickel ore inventories at seven major Chinese ports kept growing in the week ending April 28, Shanghai Metals Market data showed.

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Inventories at the seven ports, after increasing 40,000 tonnes in the week ending April 21, grew by 50,000 tonnes last week, according to SMM data.

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SMM expects medium and high-grade nickel ore prices for future delivery to extend declines this week, but price declines will be small.

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