China Port Nickel Ore Inventories Keep Falling, with Shipments to Grow from Philippines

SHANGHAI, Apr. 17 (SMM) – Nickel ore inventories at seven major Chinese ports kept growing in the week ending April 14, Shanghai Metals Market data showed.

China NPI Output Rises Slightly in March, and to Reduce 4-5% MoM in April

Inventories at the seven ports were down 200,000 tonnes on a weekly basis, according to SMM data. 

With the end of monsoon season in Surigao, the Philippines, ore shipments from the region are projected to be growing, which will gradually relieve supply shortages of medium and high-grade ore. 

This past week, tumbled nickel market and weak high-grade NPI prices weighed down medium and high-grade nickel ore market, with anemic trading. 

SMM expects nickel ore prices to hold largely stable in the coming week. 

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