Nickel ore inventory at national ports continued to drop by 200,000 wmt

On January 10, nickel ore inventory at national ports continued to drop by 200,000 wmt compared to January 3, reaching 8.396 million wmt, with a total reduction in metal content. Last week, market dynamics in the Philippine nickel ore sector indicated that due to weak demand in the Chinese market, Philippine nickel ore exporters showed low willingness to sell, resulting in sluggish market transactions. Meanwhile, the rainy season in the Philippines continued to impact nickel ore mining and transportation, and supply is not expected to increase significantly in the short term.