Nickel ore inventories at Chinese ports rose 110,000 wmt to 5.48 million wmt

SHANGHAI, May 8 (SMM) — Nickel ore inventories across all Chinese ports increased 110,000 wmt from April 30 to 5.48 million wmt as of May 7, showed SMM data. 

In Ni content, the stocks stood at 43,300 mt. 

SMM data also showed that nickel ore stocks across seven major Chinese ports increased 170,000 wmt during the same period to 4.15 million wmt. 

Nickel ore inventories at Chinese ports continued to pile up slightly during the holiday, and the import volume increased. The Philippine exports were less than 4 million wmt in April, nickel ore imports were less than expected, and the port inventory increment was limited. It is expected that nickel ore inventories at Chinese ports will post slow increase in the near term.