Nickel Ore Inventories at Chinese Ports Grow on Week

SHANGHAI, Aug 27 (SMM) – Nickel ore inventory at Chinese ports grew 154,000 wmt from a week earlier to 6.076 million wmt as of August 27. Total Ni content stood at 47,700 mt. Total inventory at seven major ports stood at around 3.679 million wmt, a drop of 126,000 wmt from a week earlier.

Affected by the pandemic, cargoes were stranded at ports for a longer period. And this slowed growth in port inventory. The current port inventory level remains low, which is basically the same as that of March.