Nickel Ore Inventories at Chinese Ports Fell 142,000 wmt

SHANGHAI, Jan 21 – The nickel ore inventory at Chinese ports dipped 142,000 wmt from a week earlier to 8.45 million wmt as of January 21. Total Ni content stood at 66,400 mt. The total inventory at seven major ports stood at around 4.1 million wmt, up 18,000 wmt from a week earlier.

Customs data showed that the imports of laterite nickel ore dropped sharply in December due to the significant impact from the wet season. The port inventory trended lower. However, the downstream purchasing interest has weakened recently as the nickel ore prices are expected to rise.

The port inventory will enter the downward track again.