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Home / Metal News / Nickel Ore Inventories at Chinese Ports down 40,000 wmt WoW

Nickel Ore Inventories at Chinese Ports down 40,000 wmt WoW

May 6, 2023 09:50

Source:SMM

As of May 5, the nickel ore inventories at Chinese ports dropped 40,000 wmt from a week earlier to 6.6 million wmt.

SHANGHAI, May 6 (SMM) - As of May 5, the nickel ore inventories at Chinese ports dropped 40,000 wmt from a week earlier to 6.6 million wmt. The total Ni content stood at 52,000 mt. The port inventory of nickel ore across seven major Chinese ports stood at 3.31 million wmt, down 10,000 wmt WoW. The prices of nickel ore rose slightly this week driven by the buyers' rigid demand, and the mines also held their prices firm. Mines in the Philippines will ship spot ore gradually in May. Therefore, the port inventory may maintain an upward track in the near future.

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