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China Tianjin Port Sees Sharp Falls in Nickel Ore Outside-Port Inventories
Jan 4, 2015 16:41Source:SMM
Inventories of nickel ore have been falling outside the Port of Tianjin after the port authority has required goods stocked outside the port to be cleared up since August 2014, SMM learns.
SHANGHAI, Jan. 4 (SMM) – Inventories of nickel ore have been falling outside the Port of Tianjin after the port authority has required goods stocked outside the port to be cleared up since August 2014, Shanghai Metals Market learns.
The fall in inventories outside the port is due mainly to few arrivals of new shipments recently and growing demand, SMM understands.
The cleaning-up process at the port was slow from August to October, but accelerated in November and December, SMM survey shows.
The Port of Tianjin saw no arrivals of ore shipments in December, in a contrast with 14, 22, and 6 in September, October, and November, according to SMM data.
At present, high-quality ore has been unavailable outside of the port, SMM adds.
Total inventories of nickel ore at the Port of Tianjin will continue falling for the foreseeable future, SMM foresees.
Nickel ore inventories at China’s major five ports fell to 13.65 million tonnes in the week ending Dec. 26, 2014, according to SMM data.
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China nickel ore inventories
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