SHANGHAI, Jul. 28 (SMM) – Nickel ore inventories at China’s major five ports – Rizhao, Lanshan, Lianyungang, Tianjin and Jingtang – fell by another 150,000 tonnes last week to 14.55 million tonnes, Shanghai Metals Market data showed.
Stocks at Tianjin, Rizhao, and Lanshan declined 100,000 tonnes, 20,000 tonnes, and 30,000 tonnes, respectively, while inventories at the remaining two ports were unchanged, according to SMM data.
Trading at the Port of Lianyungang was most brisk among the five ports last week. Five ships carrying 250,000 tonnes of nickel ore arrived at Lianyungang last week, and all arrivals were sold from the port, leaving no changes in port inventories.
Shipments to Lanshan and Rizhao were limited and were not unloaded on time due to Typhoon Matmo.
As fewer ores will be shipped from Zambales and Palawan, port inventories at China’s major five ports are expected to fall further, SMM foresees.