Nickel Ore Inventories at Chinese Ports up 169,000 wmt WoW

Published: Apr 23, 2023 13:14

Source: SMM

Save

As of April 21, port inventories of nickel ore in China stood at 6.72 million wmt, up 169,000 wmt WoW. The total Ni content was 53,000 mt.

SHANGHAI, Apr 23 (SMM) - As of April 21, port inventories of nickel ore in China stood at 6.72 million wmt, up 169,000 wmt WoW. The total Ni content was 53,000 mt. The port inventory across seven major Chinese ports totalled 3.33 million wmt, 59,000 wmt higher than the previous week. NPI prices rose to 1,100 yuan/mt on stable ore prices, which encouraged downstream purchases but suppressed the traders' willingness to ship spots. The port inventory may maintain an upward track in the near future.

Inventory

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

Nickel Prices Rise Amid Cost Pressures, Stainless Steel Demand Subdued

[SMM Nickel Flash] March 4 news: Supply side, nickel ore and auxiliary material prices continued to rise, upstream cost pressure gradually increased, and quotes remained firm. Demand side, steel scrap currently has a clear cost advantage, stainless steel selling prices were flat, and under losses pressure, purchasing sentiment was relatively subdued.

9 hours ago

SMM High-Grade NPI Sentiment Rises in March, Upstream and Downstream Factors Improve

[SMM High-Grade NPI] News on March 4: The SMM high-grade NPI market sentiment factor was 2.09, up 0.02 MoM; the high-grade NPI upstream sentiment factor was 2.87, up 0.01 MoM; and the high-grade NPI downstream sentiment factor was 1.32, up 0.03 MoM.

9 hours ago

10 hours ago

[SMM Stainless Steel Flash] Indonesian Major Mill Hikes 316L Export Price by $100/t

According to SMM, on March 4, an Indonesian major stainless steel mill raised its 316L export quotation by USD 100/mt, pushing the price spread between 316L and 304 to USD 1,800/mt. This sharp increase is driven by a rallying molybdenum market: while domestic mines have begun concentrated shipments, molybdenum concentrate transaction prices continue to trend upward. The entire industry chain currently exhibits firm raw material prices and cost-driven pressure, with downstream demand gradually following suit. Strong cost support from the ferromolybdenum market has led to this significant price divergence.

10 hours ago