Nickel Ore Inventories at Chinese Ports up 300,000 wmt WoW

SHANGHAI, Sep 2 (SMM) - As of September 2, port inventories of nickel ore in China added 300,000 wmt to 6.53 million wmt compared with last week. The total Ni content stood at 51,300 mt. Port inventory of nickel ore across seven major Chinese ports stood at 3.41 million wmt, 286,000 wmt higher than last week.  At present, the supply and demand of nickel ore still remain weak. Mines held their prices firm, and the transactions were sluggish. And stainless steel and NPI markets were slack, and their output was still low, slowing down the consumption of ore. NPI prices bear huge pressure from the oversupply, and the plants are less willing to restock even though the rainy season is coming. It is expected that the rise of port inventory of nickel ore will be limited.