Nickel Ore Inventories at Chinese Ports Surged 338,000 wmt on Week

SHANGHAI, Sep 24 – Nickel ore inventory at Chinese ports grew 338,000 wmt from a week earlier to 7.35 million wmt as of September 24. Total Ni content stood at 57,700 mt. Total inventory at seven major ports stood at around 3.7 million wmt, a rise of 18,000 wmt from a week earlier.

Southern Chinese ports saw significant increases in inventories this week. NPI output in South China regions like Guangxi and Guangdong remained low due to the great impact from power rationing. Weaker demand has resulted in stock accumulation of nickel ore at ports, even with no significant increase in arriving shipments at ports.