Nickel ore inventory at China’s ports mildly decreased and is expected to rise slightly

On April 12, nickel ore inventory at ports in China fell 40,000 wmt from April 7 to 6.965 million wmt, or 55,000 mt in metal content. Specifically, the inventory in seven major ports reached 3.328 million wmt, down 40,000 wmt compared with April 7. At present, with sellers and buyers in a deadlock, market activities are scarce. Some NPI smelters may consider replenishing their inventories slightly in mid and late April. With shipment from the Philippines up in the future, the inventory is expected to rise.