Nickel Ore Inventories at Chinese Ports Dip 185,000 wmt WoW

Published: Mar 24, 2023 17:53

Source: SMM

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As of March 24, the nickel ore inventories at Chinese ports dropped 185,000 wmt from a week earlier to 6.41 million wmt.

SHANGHAI, Mar 24 (SMM) - As of March 24, the nickel ore inventories at Chinese ports dropped 185,000 wmt from a week earlier to 6.41 million wmt. The total Ni content stood at 50,000 mt. The port inventory across seven major Chinese ports stood at 2.99 million wmt, 235,000 wmt lower than last week. Nickel ore prices crashed this week on the falling NPI prices, but buyers still expected a lower ore price. Traders and mines wrestled over the prices. NPI plants were reluctant to purchase due to the dropping NPI prices. The rainy season in the Philippines did not end, thus the port inventory will fall.

Inventory

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