Nickel Ore Inventories at Chinese Ports Dropped 78,000 wmt on Week

SHANGHAI, Jan 14 (SMM) – The nickel ore inventory at Chinese ports dropped 78,000 wmt from a week earlier to 8.59 million wmt as of January 14. Total Ni content stood at 67,500 mt. The total inventory at seven major ports stood at around 4.08 million wmt, an increase of 112,000 wmt from last Friday.

The arrivals of laterite nickel ore at ports were low. And the downstream has basically completed its restocking ahead of the Chinese New Year, hence the downstream purchasing interest was weak. The arrivals were mainly for orders that have already been placed. The port inventory of nickel ore stood low, and the consumption of imported ore also posed no surprises.