Nickel Ore Inventories at Chinese Ports down 82,000 wmt WoW

SHANGHAI, Apr 28 (SMM) -  As of April 28, the nickel ore inventories at Chinese ports dropped 82,000 wmt from a week earlier to 6.64 million wmt. The total Ni content stood at 52,000 mt. The port inventory of nickel ore across seven major Chinese ports stood at 3.32 million wmt, down 12,000 wmt WoW. The prices of nickel ore rose slightly this week based on the improvement in the downstream companies’ buying interest and the mines’ intention to raise their quotes. Mines in the Philippine will ship spot ore gradually in May. Therefore, the port inventory may maintain an upward track in the near future.