SHANGHAI, May 12 (SMM) - As of May 12, the nickel ore inventories at Chinese ports dropped 243,000 wmt from a week earlier to 6.36 million wmt. The total Ni content stood at 50,000 mt. The port inventory of nickel ore across seven major Chinese ports stood at 3.18 million wmt, down 133,000 wmt WoW. Nickel ore prices rose slightly during the week. The buyers resumed their rigid-demand purchases this week, but the mines intended to quote higher. Mines in the Philippines will ship spot ore gradually in May despite the poor weather conditions in the country. Therefore, the port inventory may maintain an upward track in the near future.
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