Nickel ore inventory across the national ports in China increased by 80,000 wmt WoW

As of July 26, nickel ore inventory across the national ports in China increased by 80,000 wmt to 8.392 million wmt compared to July 19. The metal content totalled 65,900 mt. During the week, the high rainfall brought by the typhoon passing through the Philippines continued to affect the efficiency of laterite nickel ore shipments. Additionally, as July is about to end, some related bidding activities by mines are also underway. Despite the slight rebound in domestic NPI prices during the week, domestic smelters still showed limited acceptance of current domestic medium-grade nickel ore prices.