Nickel Ore Inventories at Chinese Ports Fell 150,000 wmt on Week

SHANGHAI, Apr 8 (SMM) - As of April 8, the nickel ore inventory at Chinese ports dipped 150,000 wmt from a week earlier to 5.737 million wmt. Total Ni content stood at 45,100 mt. The total inventory at seven major ports stood at 2.445 million wmt, 30,000 wmt lower than last week. The decrease in inventory slowed down. At present, the rainy season in the Philippines gradually ends, so the import volume may increase significantly. Besides, the production of domestic manufacturers in some areas was poor due to the pandemic. Therefore, the destocking speed is expected to decline.

Disclaimer:

The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.