Nickel Ore Inventories at Chinese Ports Fell 272,000 wmt to 5.37 Million wmt

SHANGHAI, May 13 (SMM) - As of May 13, nickel ore inventories across all Chinese ports decreased by 272,000 wmt to 5.37 million wmt. In Ni content, the stocks fell 2,100 mt to 42,200 mt. Nickel ore stocks across seven major Chinese ports decreased by 262,000 wmt from last week to 2.208 million wmt. Nickel ore inventory at ports continued to decline, which decreased compared with the same period in previous years, with abnormal performance. The main reason was the unstable weather in Philippine. Although the rainy season has passed, there was still too much rain, which affected the mines, so the nickel ore shipment was poor. According to SMM research, the weather conditions in the Philippines from April to May this year are the worst in recent years. Some delayed goods since April were still not shipped till now. After the rainy season, the increase of nickel ore supply was less than expected, and the situation of sufficient supply has not come, which also makes the nickel ore port inventory at a historically low level. Affected by this, the nickel ore inventory in Jingtang port decreased by 330,000 wmt. In the short-term rainy season, it is still difficult for the nickel ore inventory at ports to increase, and there will be a turning point only when the weather improves.