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China Reports Continuous Increases in Nickel Ore Inventories, SMM Reports

iconMay 27, 2017 09:27
Source:SMM
Nickel ore inventories at seven major Chinese ports kept increasing in the week ending May 27, Shanghai Metals Market data showed. 

SHANGHAI, May 27 (SMM) – Nickel ore inventories at seven major Chinese ports kept increasing in the week ending May 27, Shanghai Metals Market data showed. 

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Inventories at the seven ports increased slightly over this past week, up 30,000 tonnes, according to SMM data. 

This past week, prices of medium and high-grade nickel ore, both for spot and future delivery, extended declines as ore demand from small and medium NPI producers remained weak, despite that high-grade NPI prices were stable, with mainstream price range lower. 

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SMM expects medium and high-grade nickel ore, both for spot and future delivery, to stabilize in the coming week due to cost support.

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