Nickel Ore Inventories at Chinese Ports Fall 279,000 wmt as of January 20

SHANGHAI, Feb 14 (SMM) - Nickel ore inventory at Chinese ports dropped 279,000 wmt from the beginning of the month to 8.58 million wmt as of January 20. The total Ni content dipped 2,000 mt to 67,000 mt. On the one hand, the rainy season in the Philippines and the weak downstream demand led to a significant reduction in nickel ore imports and arrivals. On the other hand, NPI output rose MoM in January, and the consumption of nickel ore by NPI plants grew. NPI output is expected to rise further in February, while nickel ore imports may remain at a low level. And nickel ore stocks at ports will trend lower.