China Sees Big Decline in Nickel Ore Inventories after Transportation Ban, SMM Reports

Published: Aug 21, 2017 11:40

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Nickel ore inventories at China’s all ports tumbled last week, Shanghai Metals Market survey shows.

SHANGHAI, Aug. 21 (SMM) – Nickel ore inventories at China’s all ports tumbled last week, Shanghai Metals Market survey shows.

China’s total nickel ore port inventories were 7.92 million wet tonnes or 65,800 tonnes in Ni content in the week ending Aug. 21, down as much as 620,000 tonnes on a weekly basis, according to SMM data.

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SMM attributes the sharp decline to the ban on coal transportation by truck at the Port of Tangshan, (including the Port of Jingtang and all docks at Caofeidian Port). Inner Mongolia NPI producers sped up ore transportation from the Port of Caofeidian to factories after the ban, and inventories at the port tumbled to 400,000 wet tonnes, down by half on a weekly basis.

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