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.
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.
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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