SHANGHAI, Nov 26 – The nickel ore inventory at Chinese ports dipped 114,000 wmt from a week earlier to 9.35 million wmt as of November 26. Total Ni content stood at 74,300 mt. Total inventory at seven major ports stood at around 4.52 million wmt, a drop of 24,000 wmt from a week earlier.
The port inventory has trended lower due to the impact from the wet season in the Philippines. The arriving shipments at various ports decreased. Meanwhile, the NPI production has gradually recovered.
The nickel ore inventory at ports will continue to fall in the short term due to slower supply and stronger demand.