SHANGHAI, Aug. 8 (SMM) – Nickel ore inventories at China’s five major ports – Rizhao, Lanshan, Lianyungang, Tianjin and Jingtang – grew to 15 million tonnes in the week ending Aug. 8, up 280,000 tonnes, Shanghai Metals Market data showed.
The increase in port inventories was due to arrivals of new shipments and poor sales, SMM understood.
Inventories at the Port of Lanshan grew by 120,000 tonnes following the arrivals of three shipments, and port supply grew against sluggish sales.
At the Port of Rizhao, stocks were up by 60,000 tonnes, and recent arrivals of goods were all high Fe/low Ni ores, except one shipment of medium-grade ore, belong to Shanxi Dakang Science Industry&Trade Group.
Trading at the Port of Lianyungang was the best among the five ports, but inventories were also up by 50,000 tonnes. A total of four shipments carrying ore arrived at the port, and three of them went to trading, and the left one was ordered by Xinhai Technology.
Stocks at the Port of Tianjin kept growing, up by 100,000 tonnes, while the Port of Jingtang became the only one reporting a decline in inventories, down by 50,000 tonnes.