Nickel ore inventories at Chinese ports extended decline by 670,000 wmt

Published: Mar 20, 2020 14:11

Save

Nickel ore inventories across all Chinese ports decreased 670,000 wmt in the week ended March 20 to 10.66 million wmt, compared to a decline of 550,000 wmt in the previous week, showed SMM data.

SHANGHAI, Mar 20 (SMM) – Nickel ore inventories across all Chinese ports decreased 670,000 wmt in the week ended March 20 to 10.66 million wmt, compared to a decline of 550,000 wmt in the previous week, showed SMM data.

In metal content, the stocks fell 6,000 mt this week to 89,000 mt.

SMM data also showed that nickel ore stocks across seven major Chinese ports shrank 480,000 wmt to 8.66 million wmt.

Inventory data Nickel ore

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

High-Grade NPI Discount Widens as Refined Nickel Prices Rise and Steel Mills Pressure NPI Spot Prices

[SMM Nickel Express] This week, the discount of high-grade NPI relative to refined nickel slightly widened. The change in the price spread was mainly driven by the divergent price trends at both ends. On one hand, the price center of refined nickel edged up slightly; on the other hand, high-grade NPI continued to be pressured by low tender prices from mainstream steel mills. Downstream buyers released a concentration of low-priced purchase orders, pulling back the price center of NPI spot prices across the entire market, and the discount of high-grade NPI expanded somewhat.

22 hours ago

SMM 10-12% High-Grade NPI and Indonesian NPI FOB Prices Drop, Market Sees Intensified Tug-of-War

[SMM Nickel Flash] The average price of SMM 10-12% high-grade NPI fell by 1.2 yuan/nickel unit WoW to 1,132.5 yuan/nickel unit (ex-factory, tax included), while the average price of the Indonesian NPI FOB index dropped by $0.46/nickel unit WoW to $146.23/nickel unit. This week, spot high-grade NPI remained on a downward trajectory, with the market’s tug-of-war between longs and shorts intensifying.

22 hours ago

Nickel Market Stagnates as Suppliers Resist Discounts and Steel Mills Push for Lower Prices

[SMM Nickel Flash] July 10 – In the off-season, suppliers generally show low willingness to sell and are reluctant to proactively offer significant discounts. Downstream steel mills, influenced by tender settlements at mainstream mills, have been lowering their indicative prices, with strong sentiment to push for lower prices. The market is expected to consolidate on a subdued note in the near term, making the divergence in offer prices between upstream and downstream difficult to narrow quickly, and a significant increase in transaction volumes is unlikely.

22 hours ago