SHANGHAI, Aug. 25 (SMM) – Nickel ore inventories at China’s five major ports – Tianjin, Rizhao, Lanshan, Lianyungang, and Jingtang – totaled 14.91 million tonnes last week, down 290,000 tonnes on a weekly basis, Shanghai Metals Market data showed.
Stocks at the Port of Tianjin plunged by 500,000 tonnes as NPI producers picked up goods stocked outside the port at request of local port authority.
At the Port of Lianyungang, eight ships carrying nickel ore arrived at the port last week, leading to a growth of 100,000 tonnes in stocks. Transactions at the port remained lively.
Two ships of low-grade nickel ore arrived at the Port of Rizhao last week, leaving port inventories up 50,000 tonnes.
Inventories at the Port of Lanshan grew by 60,000 tonnes, while those at the Port of Jingtang were virtually unchanged, as trades for low Ni/high Fe ore remained subdued.
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