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Home / Metal News / Nickel Ore Inventories at Chinese Ports Down 29,000 wmt WoW

Nickel Ore Inventories at Chinese Ports Down 29,000 wmt WoW

Dec 9, 2022 18:06

Source:SMM

As of December 9, inventory of nickel ore across Chinese ports dipped 29,000 wmt to 8.89 million wmt compared with last Friday.

SHANGHAI, Dec 9 (SMM) - As of December 9, inventory of nickel ore across Chinese ports dipped 29,000 wmt to 8.89 million wmt compared with last Friday. The total Ni content stood at around 70,000 mt. Port inventory of nickel ore across seven major Chinese ports stood at 4.78 million wmt, 59,000 wmt lower than last week. Nickel ore supply remained low as the Philippines is in the rainy season. Besides, the NPI plants demanded less nickel ore amid the slack NPI market. Nickel ore prices trended lower in China, which could not stimulate the imports of nickel ore. On the demand side, some NPI plants’ production will fall in December, and the consumption of nickel ore will slow down. Port inventory of nickel ore will continue to drop in the rainy season.

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