Amount of Imported Nickel Ore Arriving at Ports Totals 197,800 wmt as of February 3

SHANGHAI, Feb 3 (SMM)－As of February 3, arrivals of nickel ore at Chinese ports totalled 197,800 wmt, down 28% WoW, which was at a historically low level. The arrivals at each port were low because of the supply tightness of nickel ore. China mainly imported nickel ore from the Philippines, but the rainy season in the Philippines has seriously hindered the ore shipments, which further reduced the arrivals at Chinese ports. On the demand side, the nickel ore inventories held by large downstream factories were relatively sufficient, and some small ones restocked nickel ore in a small amount. SMM expects that the short-term arrivals of nickel ore will remain low. In March, the nickel ore arrivals will gradually grow amid the end of the rainy season in the Philippines and the normal operation of Surigao Port.