Nickel ore inventories at Chinese ports rose 54,000 wmt to 5.54 million wmt

SHANGHAI, May 14 (SMM) — Nickel ore inventories across all Chinese ports increased 54,000 wmt from May 8 to 5.54 million wmt as of May 14, showed SMM data.

In Ni content, the stocks stood at 43,700 mt.

SMM data also showed that nickel ore stocks across seven major Chinese ports increased 54,000 wmt during the same period to 4.2 million wmt.

Nickel ore market became more active compared with the previous period. Affected by the rising prices of the downstream ferronickel market, steel mills were more willing to stockpile, and the mainstream transaction prices remained stable. The import volume of nickel ore increased rapidly in recent months, and reached a peak in the third quarter. Nickel ore inventories continued to increase.