SHANGHAI, Mar 12 (SMM) — Nickel ore inventories across all Chinese ports decreased 538,000 wmt from March 5 to 6.56 million wmt as of March 12, showed SMM data.
In Ni content, the stocks fell 4,300 mt to 51,700 mt.
SMM data also showed that nickel ore stocks across seven major Chinese ports decreased 458,000 wmt during the same period to 5.39 million wmt.
Nickel ore inventories across all Chinese ports continued to decline. Although the Philippines has released the ban that some mines need to be isolated for 14 days, weather conditions in Surigao, the main mining area of the Philippines remained undesirable and shipment volume was low, making it difficult to deliver goods. Hence nickel ore inventories are likely to continue declining.