Nickel Ore Inventories at Chinese Ports Fell 65,000 wmt

SHANGHAI, Dec 31 – The nickel ore inventory at Chinese ports dipped 65,000 wmt from a week earlier to 8.59 million wmt as of December 31. Total Ni content stood at 67,500 mt. The total inventory at seven major ports stood at around 3.89 million wmt, a drop of 65,000 wmt from a week earlier.

The port inventory continued its downward trend, but the decline was relatively slow. The arriving shipments and loading both slowed down. The port unloading pressure has weakened compared with the previous period. Some NPI plants may have plans to undertake maintenance in January. The port inventory may rebound slightly.