SHANGHAI, May 15 (SMM) – The Port of Lianyungang saw a 250,000-tonne weekly decline in nickel ore inventories to 3.45 million tonnes as of May 14, Shanghai Metals Market survey finds.
The drop, also down 32% from the level at the beginning of the year, is due largely to rising utilization rates at near-by NPI producers, SMM says, in addition to limited arrivals of shipments from Philippine’s Surigao.
The monsoon season in Surigao, Philippines usually ends in late March or early April.
Inventories at the Port of Lianyungang are expected to continue falling, SMM foresees.
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