Nickel ore inventories at Chinese ports extended decline by 400,000 wmt

[8.25 Morning Meeting Minutes] Trump: Solving the $40 trillion US debt problem relies on growth, no instructions given to Bessent to intervene in the bond market. The most-traded SHFE nickel 2609 contract strengthened in early trading, closing at 129,910 yuan/mt at the end of the morning session, down 0.63%. The expectation of quota supply release from Indonesia and high inventories exerted pressure, but a weaker US dollar and cost support provided a floor. In the short term, the trading range of the most-traded SHFE nickel contract is expected to be 127,000-132,000 yuan/mt.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 24 Aug , 2026

Typhoon Saudel (locally Obet) entered the Philippine Area of Responsibility on August 24 and is moving west-northwestward, with potential impacts on the East China Sea and East China coast around August 26–27, though the track remains uncertain. For nickel logistics, Zambales/Sta. Cruz and Subic loading ports remain the key areas to watch, as heavy rain, strong winds and rough seas could cause short-term disruptions to ore loading and transportation. Surigao and other major nickel areas are expected to see limited impact. In mainland China, the East China Sea route and East China coastal ports should be monitored, as deteriorating sea conditions could temporarily affect vessel operations and port activities around August 26–27.