Nickel ore inventories at Chinese ports rose 137,000 wmt to 5.1 million wmt

SHANGHAI, Jun 25 (SMM) — Nickel ore inventories across all Chinese ports increased 137,000 wmt from June 18 to 5.1 million wmt as of June 25, showed SMM data.

In Ni content, the stocks stood at 40,200 mt.

SMM data also showed that nickel ore stocks across seven major Chinese ports increased 77,000 wmt during the same period to 3.4 million wmt.

Nickel ore stocks increased slightly this week, and inventories at Chinese ports remained stable. Nickel ore stocks were unlikely to increase significantly under the high domestic demand, and some ports still unloaded slowly recently. Time chartered vessels in July have been basically sold out with small market circulation.