Nickel Ore Inventories at Chinese Ports Surged 60,000 wmt

SHANGHAI, Nov 5 – The nickel ore inventory at Chinese ports grew 60,000 wmt from a week earlier to 9.05 million wmt as of November 5. Total Ni content stood at 71,000 mt. Total inventory at the seven major ports stood at around 4.61 million wmt, a drop of 80,000 wmt from a week earlier.

The inventory increase at the Guangxi port is the most obvious. The number of NPI plants that resumed production is smaller than that of stainless steel mills. The peak shipment period of nickel ore will end as the monsoon season has set in in the Philippines. The port inventory is expected to slide further in the near term.