SHANGHAI, May 20 (SMM) - As of May 20, the nickel ore inventory at Chinese ports dipped 7,000 wmt from a week earlier to 5,363,000 wmt. The total Ni content decreased by 50 wmt. The total inventory at seven major ports across China stood at 2.231 million wmt, 23,000 wmt higher than the previous week. The port inventory of nickel ore dropped slightly, which is at a historically low level. The main reason is that the shipment of nickel ore from the Philippines was reduced by the poor weather conditions. At the same time, some preliminary orders were not delivered, and NPI plants with a low in-plant inventory of nickel ore consumed raw material quickly, hence the arrival of nickel ore at ports could not increase. The inventory at Lanshan, Lanqiao and Tieshan Port dropped sharply, while the inventory at Jingtang and Lianyungang Port increased. It is expected that the port inventory of nickel ore may increase slightly, and the shipment from the Philippines is of utmost concern.
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.