SHANGHAI, May 6 (SMM) - As of May 6, the nickel ore inventory at Chinese ports decreased by 235,000 wmt from last week to 5.642 million wmt. Total Ni content stood at 44,300 mt. The total inventory at seven major ports across China stood at 2.47 million wmt, down 135,000 wmt from the previous week. Port inventory of nickel ore dropped a little. For now, the increase in inventory is not stable, and the inventory will be maintained at the current level. On the demand side, the transportation problem was solved to some extent as the pandemic got eased, and the NPI plants began to restock. Besides, NPI plants gradually recovered from the pandemic, and their profits were considerable, which demanded more nickel ore. On the supply side, shipment from the Philippines increased as the rainy season was over. However, it still takes some time for the shipments to return to the normal level. In addition, the pandemic slowed down the efficiency of loading and unloading at ports. Therefore, the increase in nickel ore supply was limited. In the short term, it is expected that the port inventory of nickel ore will be maintained at the current level, and the inventory will gradually increase.
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